TIWN
New Delhi, June 27 (TIWN) Gold worth $679.16 million (Rs 4,976.07 crore) was imported in May, according to Commerce Ministry data. This is multiple times higher than $76.31 million worth of gold imported in May last year amid a nationwide lockdown.
Further, for the April-May period of FY22, import of the yellow metal stood at $6.91 billion, against $79.14 million worth of gold during the same period of last fiscal. Although the import of gold has recovered with improving demand, silver imports, on the other hand, have depleted. Silver worth $15.66 million was imported last month, 95.3 per cent lower on a year-on-year basis.
Further, so far in FY22, $27.56 million worth of silver has been imported, nearly 94 per cent lower than the imports during the corresponding period of last fiscal. On the other hand, export of gems and jewellery from India surged multi-fold to $6.34 billion during the period of April-May FY22 on a year-on-year basis. In May, gems and jewellery exports surged to nearly $3 billion, from $1.06 billion in May FY21
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report
- 300 pc rise in market cap to Rs 400 lakh crore in last 10 years driven by strong economic fundamentals