Skip to content
Subscriber Only

India to Curtail Gold Imports to Ease Deficit Pressure on Rupee

India will contain gold imports below 845 metric tons this year as Asia’s third-biggest economy takes steps to curb a record current-account deficit and defend the currency, Finance Minister Palaniappan Chidambaram said.

Inbound shipments of bullion fell in June and July from a year earlier and the government is determined to limit imports below the amount bought in the year ended March, Chidambaram told reporters in New Delhi today. Imports between July 1 and July 25 were 45 tons, he said, without elaborating.