Friday, 4th November 2005 (4188 views)

Indian gold imports have risen by more than half in the period from April to August when compared to last year's figures.

The Business Standard reports that imports rose to $5.5 billion during this period, in comparison to last year's figure of $3.6 billion.

Gold's total of $5.5 billion represents 10.2 per cent of all imports into the country.

Meanwhile, India's gold consumption continues to maintain its strong trend.

The World Gold Council's managing director, Sanjiv Agarwal, attributed the rise in consumption to heightened gold buying between April and August.

He said that more than 300 tonnes had been consumed this year in comparison to 180 tonnes for the corresponding period last year.

The Indian government is currently considering proposals to extend the importing of gold, which is currently only practised by agencies authorised by the Royal Bank of India, including 13 banks.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.