
New Delhi: The country's gold imports have fallen for the fifth consecutive month in April. Due to the global lockdown due to Covid-19 infection, it has fallen by 100 per cent to $ 28.3 lakh. It was $ 39.7 billion in April 2019 according to the Commerce Ministry data.
The fall in gold imports has helped in reducing the country's trade deficit. The country's trade deficit stood at $ 6.8 billion in April compared to $ 15.33 billion in April last year. The country's gold imports have continued to decline since December. India is the world's largest importer of gold. Every year around 800 to 900 tonnes of gold are imported into the country.
Export of gems and jewelery dropped in April
Gems and jewelery exports from the country fell 98.74 per cent to $ 36 million in April. The country's gold imports fell 14.23 percent to $ 28.2 billion in FY 2019-20, from $ 32.91 billion in 2018-19.
Import of gold puts a big burden on the current account deficit of the country. Current account deficit means the difference between the arrival and departure of foreign capital in the country.
Lockdown 4.0 released, many industries still stalled
The impact of the Corona virus is so great that almost all the industrial activities of the country were stalled. However, in the lockdown 4.0 which started from May 18, the government has given permission to open many industries. Its huge impact has also been seen on the gold business. Where the spot trade of gold is closed and desolation is prevalent in the bullion market.
Jewelers may face problems
Due to the decrease in gold imports, the burden on the current account has reduced, but when the bullion markets open in the coming times, the jewelers may have to face the shortage of gold because India imports most of the gold it needs.
A major accident happened in Ahmedabad, Gujarat. The lift of an under-construction building colla
Aamir Khan's 'Sitare Zameen Par' has been in constant discussions since its release. The film is
The government wants to set up an Appellate Committee to look into the way companies deal with co
Indian women's cricket team vice-captain Smriti Mandhana will be aiming to set a major record bef
The Supreme Court has refused to impose more restrictions on the freedom of speech of ministers,
Redmi has started preparations to launch the Redmi 13 series for its customers. Let us tell you t
'Kalki 2898 AD' is one of the most awaited films to be released in 2024 and has created a lot of
The Vice-Chancellor of Delhi University says that the art of collaboration should be taught to th
President Draupadi Murmu is currently on a tour of Suriname and Serbia. He addressed the Indian c
Now the cold is continuously increasing in all the states of North India including Delhi. The tem