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FSN: Gold Imports In India More Than Double in April
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
Gold imports into the country soared 138% to $7.5 billion in April, as compared to April 2012.
by Shivom Seth
Mine Web
MUMBAI (MINEWEB) – Alarm bells started ringing in India on Monday afternoon about the country’s high trade deficit, pegged at $17.8 billion in April and the highest so far this year, the government targeted its ire on gold imports by creating new import hurdles later the same day.
Gold imports into the country jumped by 138% in April to $7.5 billion, massively pushing up the trade deficit. In April 2012, gold and silver imports stood at $3.1 billion.
Commerce Secretary S R Rao told mediapersons, while announcing the import export figures, that overall imports have seen an undue growth of 10.9% in April, largely on th back of a significant increase in gold imports.
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Source: http://silveristhenew.com/2013/05/14/gold-imports-in-india-more-than-double-in-april/
