Gold price hike increases imports in India..!?

As you can see, ten grams of gold has approached Rs.1 lakh. It must be said that the price has increased drastically this year alone in the past few years. As you can see, ten grams of gold has approached Rs.1 lakh. It must be said that the price has increased drastically this year alone in the past few years. Coming to that, it is said that this is the largest price increase in a year in the past ten years. It must be said that the expectations that ten grams of gold will reach Rs.1 lakh for another two to three years have been changed by the international developments that have taken place. When the price of gold increased so much, it was said that there was a difference in retail sales and purchases decreased. However, it is said that this is all one angle. Even after the price of gold increased drastically, it is said that imports in the country have not only increased but have not decreased. The latest statistics for the month of march have been released by the Ministry of Commerce.
Compared to february this year, the value of imports in march increased by 191.13 percent and reached $ 4.47 billion. That is, in our rupees, it is said to be Rs. 33 thousand crores. It is known that the fiscal deficit will increase to the same extent due to the huge increase in imports. In the last financial year 2024-25, about $ 58 billion of gold was imported. In the previous year (2023-24), it was $ 45.54 billion. That is, the percentage of increase should be said to be 27.27. Currently, 24-carat fine gold is being sold for over Rs 98,000 per ten grams. switzerland is at the top with a share of 40 percent of India's gold imports. The uae has 16 percent and south africa has 10 percent. In the financial year 2023-24, it was 757.15 tons (a ton is 1000 kg). In the financial year 2024-25, it has decreased to 757.15 tons. india is the second largest importer of gold in the world after China. It is said that there is a huge demand for gold from the jewelry industry.
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

Sowmiya Sriram

19/04/2025 11:58 AM