Gold Imports | Gold means a lot to Indians .. especially to the ladies .. if possible they tend to buy gold jewelry. Gold ornaments are a must for the newlyweds at Pendlinds in India. Jewelry is also given as gifts during the festive season. But domestically gold production is only one percent. Everything else has to be imported from abroad. We are importing 769.7 tonnes of gold on a quarterly basis. China is the second-largest importer of putty. But Putin’s imports fell last fiscal year. This was stated by Union Minister of State for Industries and Commerce Anupriya Patel in a written reply to a question in the Lok Sabha on Wednesday.
Like the WGC on gold imports
Gold imports fell from 719.94 tonnes to 651.24 tonnes in 2020-21 compared to 2019-20. Earlier, gold imports were 982.71 tonnes in 2018-19, Anupriya Patel said. According to the World Pacific Council (WGC) data, on January 28, 797.3 tonnes of gold were purchased by Indians in 2021. The WGC revealed that this was the highest in the past identities. Demand for gold jewelry will double in 2021. In the wake of the pendulum and festive season, Corona saw 610.9 tonnes of gold jewelry purchases in 2021, the highest level of Arendt’s above the previous level. Most of the gold jewelry was bought by the townspeople.
It is expected to grow by 79% in 2022
Total gold imports were 349.5 tonnes in 2020 and increased by 165 percent to 924.6 tonnes in 2021. It is learned that despite the wedding ceremonies held in the last financial year, there were no major gold purchases due to the Corona influence. The WGC said it expects 79 percent of gold imports this year as consumer confidence rises and retail jewelry purchases pick up.
Decreased toy imports from China
Responding to another question, Anupriya Patel said that imports of toys, games, and game accessories from China were declining. In 2018-19, 451.71 million dollars worth of goods were imported from China. But since April last year, it has fallen to $ 206.11 million in January this year.