Gold imports dip 9% to $24.64 bn during Apr-Jan

Gold imports dip 9% to $24.64 bn during Apr-Jan
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Gold imports, which have a bearing on the country's current account deficit (CAD), fell about 9 per cent to $24.64 billion (about Rs 1.74 lakh crore) during April-January period of the current financial year, according to Commerce Ministry data.

New Delhi: Gold imports, which have a bearing on the country's current account deficit (CAD), fell about 9 per cent to $24.64 billion (about Rs 1.74 lakh crore) during April-January period of the current financial year, according to Commerce Ministry data.

Imports of the yellow metal stood at $27 billion in the corresponding period of 2018-19.

The decline in gold imports has helped in narrowing the country's trade deficit to $133.27 billion during April-January period of the current fiscal as against $163.27 billion a year ago.

Gold imports have been recording a negative growth since July last year.

However, it recorded a positive growth in October and November last year, only to contract by about 4 per cent in December and 31.5 per cent in January this year.

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