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Jorge Ramiro - IIGC 2014
In the current fiscal, according to commerce ministry figure, between April and august, India imported 259 tons of gold. If we add another 240 tons of gold (September + October), total import is coming around 500 tons. But if we look at gold import in value terms, the percentage of gold import against India’s total import bill has come down from 11.01% in 2011-12 to 5.53% in the current fiscal, the lowest in recent years. I don’t think there should be anything to concern too much at the present.
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