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.
America will strengthen India to compete with China - Press Review
According to an Economic Times report, the United States will offer India, Japan, and Australia t
Semiconductor Technology Fairchild Semiconductor, a US company, had sought permission for its man
The Defense Minister is giving information about the helicopter accident in Coonoor in Parliament
Why India can outdo Pakistan in Asia Cup 2022, explains Rashid Latif
The last match between Team India and Pakistan was played on 24 October 2021 and now after about
Canada Vandalism of Hindu Temples Gauri Shankar Temple, a prominent Hindu temple in Brampton, Can
The situation of the corona epidemic in the country is continuously improving. Corona cases have
During the rising heat, cases of water crisis have also started coming up in the capital of the c
Two terrorists were gunned down by the security forces in the Drgad area of Shopian within
Delhi border seal, no pass no entry
In view of the increasing cases of corona in Haryana, the government has re-sealed the inter-stat
There is a lot of excitement among the people regarding cricket and IPL has given it a new direct
