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Tuesday, 14th July 2009 (1218 views)

Imports of gold rose in India between April 2008 and January this year, new figures have shown.

Jyotiraditya Scindia, minister of state for commerce, told the Lok Sabha - the lower house of the Indian parliament - in a note that imports worth 7.6 million rupees (£95,340) had been made during the period.

This compared with a value of 6.7 million rupees for the full 2007-08 fiscal period, the Press Trust of India reported.

Mr Scindia added that total Indian gold demand could be estimated at between 700 and 800 tonnes a year.

Yesterday (July 13th), the Bombay Bullion Association reported that total Indian gold imports for the first six months of 2009 stood at 63.8 tonnes, with 12 tonnes of gold being imported during the month of June.

Demand for the precious yellow metal tends to escalate between September and January in India for the wedding and festivals season.

 

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