RBI for removal of restrictions on gold import

Last Updated: Wednesday, December 18, 2013, 14:09

CAD, which is the difference between the inflow and outflow of foreign currency, had touched a record high of USD 88.2 billion or 4.8 percent of GDP last fiscal.

Gold smuggling increased due to hike in import duty

Last Updated: Monday, December 9, 2013, 21:55

The Finance Ministry has said incidence of gold smuggling has increased due to hike in import duty and fluctuation in global prices.

Indian 2014 gold imports seen at half usual levels: Trade body

Last Updated: Friday, December 6, 2013, 19:54

Indian gold imports may fall 70 percent in the final quarter of 2013 from 255 tonnes in the year-ago period and are expected to be half usual levels at 500-550 tonnes next year if new import rules are maintained, a top trade body official said on Friday.

PM panel okays Rs 7,200 cr interest-free loans to sugar mills

Last Updated: Friday, December 6, 2013, 16:45

The ministers also suggested recasting of loans taken by mills as per Reserve Bank norms, incentives to produce 4 million tonnes of raw sugar and setting up of buffer stock, besides doubling ethanol-blending in petrol to 10 percent.

Indian gold premiums hit another peak on scarce supplies

Last Updated: Thursday, December 5, 2013, 16:35

Indian gold premiums hit another record on Thursday, driven by lower supplies to meet firm demand for weddings, which will continue till May.

Bullion smuggling outstrips narcotics to feed gold habit

Last Updated: Wednesday, December 4, 2013, 13:27

The World Gold Council estimates that 150 to 200 tonnes of smuggled gold will enter India in 2013, on top of the 900 tonnes of official demand.

Gold premiums steady due to scarce stocks

Last Updated: Friday, November 22, 2013, 17:28

Gold premiums in India steadied on Friday on scarcity of stocks or domestic consumption despite muted demand, amid steady prices in the domestic market.

Gold imports likely to drop 40% to 500 tonnes in FY14

Last Updated: Sunday, November 17, 2013, 13:14

India's gold imports are likely to fall by 40 percent to 500 tonnes in the current financial year, providing relief to the government, which is trying to narrow the current account deficit and stabilise the rupee.

Gold sales down by 50% on Dhanteras

Last Updated: Saturday, November 2, 2013, 09:36

Gold shipments are down as import duty has been hiked to 10 percent from 8 percent to address the ballooning current account deficit situation.

With gold scarce, festival season loses its shine

Last Updated: Friday, November 1, 2013, 19:25

A scarcity of gold and high prices are pushing Indians to look to silver or diamond jewellery as alternative gifts this festive season, adding to the gloom in the gold trade after government measures to restrict imports.

Not much of festival season in India as gold runs dry

Last Updated: Tuesday, October 22, 2013, 17:22

The government has set a record 10 percent import duty on gold and imposed a rule that requires 20 percent of imports to be re-exported, meaning importers need to find a buyer who will guarantee those exports before bringing in any gold.

Sugar industry seeks hike in import duty and export sops

Last Updated: Thursday, October 17, 2013, 17:14

ISMA, the apex body for sugar industry, Thursday demanded the government increase import duty on sugar and provide assistance for exports to bail out the sector that suffered losses in 2012-13 season.