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Gold import fell by 50% in first half of 2016

13 Jul 2016 Evaluate

India’s gold imports fell in the first six months of 2016. The country's Gold import bill during the period had been estimated at $9.4-9.6 billion with imports estimated at around 210 tons. The import bill was down over 40% from the same period a year ago and tonnage was down almost by half.

In January the imports was at 75 tons, after which it has been averaging 27-30 tons a month. The worst month for Gold imports was March because of a strike by jewellers over the imposition of an excise duty.

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