NEW DELHI: Gold imports, that have a bearing on the current account deficit (CAD), plunged 57 p.c to USD 6.8 billion (around Rs 50,658 crore) right through the primary part of this fiscal amid a droop in a call for because of the COVID-19 pandemic, confirmed information through the trade ministry.

In the corresponding length a yr in the past, gold imports stood at USD 15.Eight billion (about Rs 1,10,259 crore).

Similarly, silver imports right through April-September 2020 too dipped 63.four p.c to USD 733.57 million (about Rs 5,543 crore), the knowledge confirmed.

The decline in gold and silver imports has helped in narrowing the rustic’s industry deficit, the distinction between imports and exports, at USD 23.44 billion right through April-September 2020-21 as towards USD 88.92 billion within the year-ago length.

India is the most important importer of gold, which principally caters to call for the jewellery industry. In quantity phrases, the rustic imports 800-900 tonnes of gold every year.

Gems and jewellery exports declined from about 55 p.c to USD 8.7 billion in April-September 2020 amid the pandemic.

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