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India’s gold import rises 45 pc to 48 tonnes

The Economic Times [1]
Wednesday, November 11, 2009

NEW DELHI: India’s gold imports surged by over 45 per cent in October at 48 tonnes on the back of rising demand, the country’s largest state-run gold importing firm MMTC said today.

India, the world’s largest gold consumer, had imported 33 tonnes in the corresponding period last year, it said.

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[2]

“Gold imports rose due to a sharp rise in jewellery demand and pick up in investment,” MMTC Chairman and Managing Director Sanjiv Batra told reporters here.

Consequently, MMTC purchased 15.13 tonnes from the global market last month as against 10.42 tonnes in the same period in 2008-09, he said.

Full story here. [1]