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India’s gold imports rise in March

Posted on 08 April 2014

Offering a space of breath to the Indian jewelers, the latest report revealed that the gold import in India surged nearly 50 tones in March, amid the RBI’s import restrictions. Since the RBI’s infliction of Gold import norms last year, gold import in the country was found to fade by volume, thereby creating drastic supply crunch for jewelries across the country.
The gold imported through illegal means have also increased due to the tightening of rules and enforcement of 10 % import duty because of which gold smugglers started experimenting on bizarre methods to sneak gold to India………………………………………..Full Article: Source


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