Pursuits
India Gold Imports Seen Dropping as Rajan Protects Rupee
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Gold imports by India, the world’s biggest consumer after China, will probably decline for a third year as the government keeps curbs on shipments to prevent the current-account deficit from widening and to support the rupee.
Foreign purchases may drop 15 percent to 700 metric tons in 2014, according to the median of estimates from nine analysts and jewelers including Gitanjali Gems Ltd. and Rajesh Exports Ltd. compiled by Bloomberg. Imports fell 44 percent to 350 tons in the first half, government and World Gold Council data show.