| Gold and Silver imports in India is reported to have suffered a 77% fall in January, plunging to 1.72 billion. Reflections of stringent import regulations along with the RBI imposed 80:20 norms are noted as the main factors for the remarkable fall.
With the intention of curbing the current account deficit (CAD) of the country, the Government of India had implemented several regulations to control the inbound shipment of gold and silver over a year. The import customs duty on gold which stood at 2% was hiked thrice in 2013 to reach 10% now...............................................Full Article: Source
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