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.
Tejaswi challenged, said- If there is a political position, then get Patna University central status
The matter of 'aukat' arose in Bihar once again. Before the Assembly elections in Bihar, the then
In February of last year, comedian Samay Raina found himself embroiled in a controversy. This occ
Corona has started spreading again in the country. It could also be the sound of the fourth wave.
The moisture-laden winds blowing from the Arabian Sea are going to bring relief to the scorching
Pakistan-China part shown to Kashmir-Arunachal, WHO issued a disclaimer on India's objection
The government has strongly raised the issue of the wrong map of India on the website of the Worl
Jamia: The admission process started for academic session 2022-23, you can apply online from here
Jamia Millia Islamia: Jamia Millia Islamia (JMI) has launched its e-prospectus for the academic s
Now buying property in the capital of the country will become expensive. The reason for this is t
The world witnessed the strict attitude of the administration of Donald Trump towards China and d
There was a partial change in the weather in most parts of North India. In Punjab's Gurdaspur and
Project K at San Diego Comic-Con Event: After sharing screen space with Kriti Sanon in Adipurush,
