New Delhi, July 25 (TIWN) India registered a manifold raise in import of gold during the first three months of FY22 on a year-on-year basis, to nearly $7.9 billion.

During the same period last fiscal, gold imports stood at $687.83 million.

As per data from the Commerce Ministry, import of the yellow metal in July also registered a nearly 60 per cent rise to $969.87 million.

Silver imports, however, have declined this fiscal.

During Q1FY22, silver imports stood at $39.39 million, 93.15 per cent lower than $575.11 million worth of imports in April-June FY21.

In June, silver worth $11.83 million was imported, against $137.22 worth of the metal imported during the same month last fiscal.

India, a major importer of gold, exports gems and jewellery. In April-June, gems and jewellery worth $9.17 billion was exported, 244.29 per cent higher on a year-on-year basis.