INDIA November 28 2013 6:00 PM

 

MUMBAI (Scrap Register): The world's biggest bullion consumer India's gold and silver bar imports declined sharply in October this year, as per the latest figures released by the the Gems and Jewellery Export Promotion Council (GJEPC). 

 

Gold Imports

India's gold bar imports dropped by 50.15% year-on-year to $ 477.27 million (INR 2,940.93 crore) in October as compared to last year's $ 957.48 million (INR 5,076.56 crore). 

 

According to GJEPC, India's gold bar imports declined sharply by 57.22% year-on-year to $ 2,964.97 million (INR 17,377.40 crore) during April to October this year. Country has imported $6,931.36 million (INR 17,377.40 crore) worth gold bar during the same period last year.

 

Silver Imports

India's silver bar imports declined by 61.23 % year-on-year to $ 2.71 (INR 16.67 crore) in October as compared to last year's $ 6.99 million (INR 37.05 crore).

 

India's silver bar imports dropped by 7.4% year-on-year to $ 25.91 million (INR 153.32 crore) during April to October this year. Country has imported $ 30.47 million (INR 165.46 crore) worth gold bar during the same period last year.