India’s gold jewellery imports up 10% in Q1

In the first quarter of the current fiscal, India recorded a 10 percent increase in its gold jewellery imports to value Rs.696.44 crore, reports say. In the said period there was a 3.32 percent drop in imports of gold bars, valuing Rs 8,261.88 crore. The quarter closed June 30, 2014.

The rise in finished gold jewellery imports is being attributed to the high premium on gold caused by the restrictive regulations on gold, existing in the country.

Also, the drop in imports of gold bars is being attributed to the 80:20 import norms.