With electronic gadgets attracting more interest, Indians overlook gold
Posted on: 05/Jul/2018 12:10:26 PM
Of late, the Indian citizens have displayed a trend of losing their intense attraction for gold and gold jewellery. Their attention has now been diverted to the hi-tech electronic gadgetry. This trend has been established by the fact that there has been a substantial increase in the import of electronic goods.
India has been importing large quantities of crude oil from other countries. The next most imported item was gold. However, the trend has changed now. In the list of maximum imported items in India, the electronic gadgets have replaced as the 2nd most import after the crude oil, thus replacing gold.
Electronic Gadgets
The usage and popularity of the smartphones, Televisions, Computers, Laptops, and other electronic gadgets have shown attend of continuous increase. The experts have cited this as the main reason for the increase in the import of these gadgets.
The government has released the details regarding the imports over the last 13 months. As per this, the import of gold was worth the US $ 35.8 billion. However, the import of the electronic gadgets stood at a value of US $ 57.8 billion.
