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.
Prabhas and Kriti Sanon starrer Adipurush, hit the theaters this Friday amidst much buzz. A lot o
Several important decisions were taken in the Punjab cabinet meeting chaired by Punjab Chief Mini
Is Nepal going to turn again? Questions are also being raised on India
In Kamalpokhari in Nepal's capital, Kathmandu, hundreds of people from the mass movement gathered
The Delhi Police has sought the response of the Delhi Police while hearing the case of violent de
The Indian Meteorological Department has given big information about Monsoon 2022. This informati
Three terrorists were killed in two encounters going on in Jammu and Kashmir on Monday night. One
Rajinikanth said - can't get into politics, can't start the party
South Indian superstar and famous actor Rajinikanth has announced that he will not enter electora
Nikita Murder Case: Anil Vij said - I will not let anyone's bullying, hearing in fast track court
Haryana Home Minister Anil Vij said that he will not allow anyone to be bullied in the Nikita mur
Reserve Bank of India Governor Shaktikanta Das chaired the meeting of the Sub-Committee of the Fi
Presenting the budget for the financial year 2022-23 on February 1, Union Finance Minister Nirmal
