16 percent decrease in gold imports
Posted on: 14/Apr/2016 12:04:03 PM
The world`s second biggest consumer imports in March slumped to 18 tonnes from 125 tonnes in the previous year, India`s gold imports in 2015/16 fiscal year, ended on March 31, dropped 16 percent from a year ago to 926 tonnes Indian jewellers went on an indefinite strike from March to protest the reintroduction of excise duty on gold jewellery after four years.
The strike and higher prices are believed to have cut India`s demand for gold in March quarter by about two-thirds
