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Indian Gold Imports Surge To $38 Billion In April-December Period
India's gold imports, which has a bearing on the country's current account deficit (CAD), more than doubled to $38 billion during April-December this fiscal on account of higher demand, according to data of the commerce ministry. The imports stood at $16.78 billion in April-December 2020. In December 2021, imports of the precious metal rose to $4.8 billion from $4.5 billion in the year-ago period. The surge in gold imports during the nine months contributed to the widening of the trade deficit to $142.44 billion against $61.38 billion in April-December 2020. Similarly, silver imports also increased to $2 billion ... (full story)