India's gold imports jump 21.78% to $27 bn in Apr-Sep due to strong demand

Quick Summary:

The country's gold imports, which have a bearing on the country's current account deficit (CAD), rose by 21.78 per cent to USD 27 billion during April-September this fiscal due to strong domestic demand, according to the government data.

The jump in gold imports pushed the country's trade deficit (difference between imports and exports) to USD 137.44 billion during the first half of the current fiscal compared to USD 119.24 billion during April-September 2023.

In 2023-24, India's gold imports surged 30 per cent to USD 45.54 billion.

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Category: BusinessFinance

Markets: IndiaChinaSouth AfricaSwitzerland

Topics: Exporter Sep Imports Shipments Current account deficit Gold Apr

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 16:39:41 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 405 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23337625

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