Unrefined gold imports rise to a record high in 2017, up 80% to 213 tonnes

Half the new capacities were built in states which announced excise tax exemptions - Uttarakhand and Himachal, for instance

India's import of unrefined gold (dore) rose in 2017 by 80 per cent from the previous year to 213 tonnes, the highest ever, estimates GFMS Thomson Reuters.

 

It estimates total gold import in 2017 at 855 tonnes or 67 per cent higher than a year before. Of the 2013 tonnes of dore import, 22 per cent is estimated to have come from America and 19 per cent from Ghana and other African countries.

Dore import began six years earlier, after a rise in the import duty on gold. Half the new capacities were built in states which announced excise tax exemptions —