NEW DELHI: Buoyed by sharp fall in gold prices globally, India is likely to see a jump of 11 per cent in imports of the metal to 1,000 tonnes this year, says a trade body.
According to the All India Gems and Jewellery Trade Federation, the world’s second-biggest gold consumer had imported around 900 tonnes in 2014.
“Gold import is estimated at around 1,000 tonnes in 2015 calendar year, compared to around 900 tonnes last year. Imports are likely to increase because of low global prices,” All India Gems and Jewellery Trade Federation Chairman G V Sreedhar said at an event here.
He said imports through smuggling are estimated to be around 100 tonnes this year.
