India’s Gold imports surge 61% to 155 tons in April-May

03-Aug (Bullion Street) — India’s gold imports surged by about 61% to 155 tons in the first two months of the current fiscal mainly due to weak prices globally and the easing of restrictions by the Reserve Bank.

In April-May of the last fiscal, gold imports had aggregated about 96 tons, PTI reported on Sunday, citing latest official data.

India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. In 2014-15, India imported 915.54 tons of gold as against 661.71 tons in the previous financial year.

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