SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Gold imports decline 47.42% during April-October: Commerce Ministry

17 Nov 2020 Evaluate

The Commerce Ministry’s data has showed that gold imports, which have a bearing on the current account deficit, declined 47.42% to $9.28 billion during April-October, as compared to $17.64 billion in the corresponding period of 2019-20, due to fall in demand in the wake of the COVID-19 pandemic.

However, the imports recorded a growth of about 36 percent in October. Silver imports during the period too dipped 64.65 percent to $742 million. The decline in gold and silver imports has helped in narrowing the country's trade deficit, difference between imports and exports, to $32.16 billion during April-October 2020-21 as against $100.67 billion in the year-ago period.

India is the largest importer of gold, which mainly caters to demand of jewellery industry. In volume terms, the country imports 800-900 tonne of gold annually. Gems and jewellery exports declined by about 49.5 percent to $ 11.61 billion in April-October 2020.

About MoneyWorks4Me

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.

Our Vision

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.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×