India’s gold imports in April stood at $6.2 billion on the back of strong consumer demand.
During the same period last year gold imports stood at just $2.83 million on account of the nationwide lockdown.
The surge in gold imports pushed India’s trade deficit to $15.1 billion in April 2021 as against $6.76 billion a year ago.
However, silver imports last month declined as per Commerce Ministry data. Silver worth $11.90 million was imported during the period under review, down from $103.75 million in April last year.
India’s merchandise imports grew in April 2021, rising to $45.72 billion, with an increase of 167.05 per cent over $17.12 billion in April 2020.
Exports grew to $30.63 billion, higher by 195.72 per cent over the $10.36 billion reported in April 2020.