MUMBAI: India’s central bank said yesterday it will consider more steps to restrict gold imports and help stem the country’s widening current account deficit. Gold purchases are one of the biggest contributors to the deficit in the current account.
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/20130206235219/Article/
Published: February 07, 2013
It hit a record US$22.3 billion (RM68.91 billion), or 5.4 per cent of gross domestic product, in the July-September quarter, as imports outpaced exports.
India imports about 900 tonnes of gold each year, mainly through designated banks. AFP
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