Gold imports in FY20 fell to a decade low, March saw 75% decline

Demand slowdown seen next year as well; no immediate uptick seen post lifting of lockdown

Gold imports took a sharp hit in FY20 following a series of developments — the latest being the coronavirus pandemic — which, on the other hand, pushed the price of the precious metal to record highs.

The import is estimated at 559.6 tonnes for the financial year, which ended on Monday. It is believed to the lowest in at least a decade. In FY19, the gold import stood at 775.4 tonnes.

In terms of return from investment in gold, FY20 was fantastic -- it gave a 36 per cent return to Indian investors.

Except for the June quarter, demand remained usually muted. Since