The Economic Times, in its August 30, 2012 article, reports that Gold imports dip 18.4% to Rs 71,912 crore in April-June.
Extract :
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NEW DELHI: India's gold imports
contracted by 18.4 per cent year-on-year to Rs
71,912 crore in the April-June quarter of the
current fiscal.
However, it is difficult to attribute specific reasons for decline in import
of gold, Minister of State for Commerce and Industry Jyotiraditya
Scindia has said in a written reply to the Rajya Sabha.
"Volume of import of any commodity, including gold, depends on many
factors which includes domestic demand, international and domestic prices,
exchange rate, duty rates," he said, adding that the import of gold is
free except for monetary purposes.
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