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Monday, May 20, 2013

Chidambaram About Gold Import

Chidambaram, Finance Minister of India, said India will take whatever it can do for curbing import of gold.

India's import of gold and silver shot up 138% in April 2013. This has direct impact on India's trade and current account deficit. It may force RBI not to ease monetary policy, though there is a recent slowdown in inflation.

But as observed, in India, gold is not a luxury, it is a necessity. And as gold is now available at a comparatively lower rates (as compared to all time high), demand in India will surely surge.




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