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India's gold imports turn out to be $5 billion lower in Nov, trade deficit narrows
The Statesman
|January 09, 2025
The government has scaled down its estimate of gold imports for November 2024 to $9.84 billion from the preliminary estimate of $14.86 billion announced last month, data compiled by the Commerce Ministry's Directorate General of Commercial Intelligence and Statistics showed on Wednesday.
The $5 billion downward revision in gold imports would lead to an equivalent reduction in the country's trade deficit which would strengthen the macroeconomic fundamentals and be positive for the rupee, a senior official said.
The revised figures for inbound shipments of gold in value terms are nearly 34 per cent lower than what was reported last month.
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