Friday, Mar 29 2024 | Time 13:24 Hrs(IST)
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Business Economy


New Delhi, July 15 (UNI) With prices of gold in international and domestic market on decline, import of the yellow metal fell by around 25 per cent in the first quarter (Q1) of the current Fiscal Year (2018-19).
According to data released by the Commerce Ministry the value of gold imports stood at US$ 8.43 billion in QI of this fiscal against the US $11.26 billion in the corresponding quarter of last financial year, 2017-18.
The imports of the metal have been declining since January this year.
India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. The gems and jewelery exports in June grew by about 3 percent to US$ 3.5 billion.
As per the data, silver imports grew by 104.5 percent to US$ 364.24 million in June.India imports 700-800 tonnes of gold annually.
UNI JPG SHK 2042
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