India’s yellow metal imports skyrocketed by over 179% to about $3.81 billion in December 2015, as per the data of Commerce Ministry. The inbound shipments of gold in December 2014 stood at a little over $1.36 billion.
Imports of silver also registered an upsurge, growing at 158% to $472 million in December 2015 from the $182.30 million in the same month of previous year. The surge in imports further widened the trade deficit gap to a four-month high at $11.66 billion.
During April-December 2015-16, gold imports increased to $26.45 billion as compared to $25.85 billion during the corresponding period of last year
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