India’s Gold imports fell by 37% to USD 1.96 billion in June 2015, a development which will help in keeping the current account deficit (CAD) in check. Imports of the precious metal stood at USD 3.12 billion in the same month of 2014. In May this year, the imports were worth USD 2.42 billion.
The decline in gold imports helped in narrowing the trade deficit to USD 10.82 billion in June as against USD 11.76 billion in the same month last year.
India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. Though, large import of gold has also widened the current account deficit, which occurs when value of import of goods and services is more than exports, in recent past. The CAD in 2014-15 shrank to 1.3% of GDP (USD 27.5 billion) from 1.7% (USD 32.4 billion) in 2013-14. The Reserve Bank and the government have maintained that the CAD level is comfortable.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: