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Indian gem and jewellery industry hope for reduced gold import duty
Say the fall in gold imports to 13 percent could prompt the government to take measures
The increased import duty was a measure undertaken by the government to curb gold imports, as it opined this to be the large contributor to the widening CAD. The industry feels that imports in 2014 would be within the range of around 650 tonnes which is less compared to 2013 figures which clocked 750 tonnes.
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