India's gold, silver imports fall in November

India's gold imports declined by 36.48% to $3.53 billion in November as compared to $5.57 billion recorded in the same month previous year, according to data of Commerce Ministry.

According to All India Gems & Jewellery Trade Federation, gold imports are expected to cross 1,000 tons this year as against 900 tons in 2014.

Import of both gold and silver has declined in value terms in November this year. Silver imports declined by over 55% to $285.01 million in November this year from $643.71 million in the year-ago period. Import of pearls, precious stones and semi-precious stones declined by 53.49% to $977.51 million from $2,101.75 million in the same period. Exports of gems & jewellery fell by about 22% to $2.89 billion in November this year from $3.68 billion last year.