
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.
Delhi Police and Central Security Forces have made foolproof security arrangements for the foreig
Pollution persists in the capital due to local factors. With slow wind speeds, the air quality re
The debate is going on in the Bombay High Court regarding the removal of the phrase Jai Shri Ram
BJP leader and Uttar Pradesh Chief Minister Yogi Adityanath has arrived in Himachal Pradesh today
Retail inflation may have reached an 11-month low of 5.88 percent in Monday's figures, but prices
Begin: Rahul Gandhi's election rally in Bengal today, why not know in the first four phases?
Four-phase voting has been held for the West Bengal elections and Congress MP Rahul Gandhi is goi
New Launch Phone On Amazon: A sale is going on for Amazon Prime members, in which the best recent
Three Khalistani terrorists killed in Pilibhit were accused of attacking a police post in Gurdasp
Narcotics Control Bureau (NCB) Zonal Director Sameer Wankhede reached Delhi on Monday following a
Risk of loan default on Pakistan deepens, Fitch downgrades rating; issued this warning
Another bad news for the beleaguered Pakistani economy. After a sharp decline in foreign exchange