InvestorQ : Is it correct that gold imports into India dipped sharply in the Jun-20 quarter?
swati Bakhda made post

Is it correct that gold imports into India dipped sharply in the Jun-20 quarter?

Answer
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Sam Eswaran answered.
2 months ago


For the Apr-Jun quarter, the gold and silver imports dipped sharply due to higher prices. Consider these statistics. Gold imports fell by 81% in this period while silver imports fell by 56.5%. This sharp fall in imports of gold and silver has helped India narrow its trade deficit.

Due to this fall, the Indian government and the RBI can breathe easy because it means less forex reserves are spent on unproductive assets like gold and silver. However, the gold imports are expected to pick up once the uncertainty ends and jewelry demand returns.