Pursuits
Gold Imports by India Seen Rebounding by Billionaire Jeweler
This article is for subscribers only.
Gold imports by India, the second-biggest consumer, will rebound in the second half as a new government may ease trade curbs while festivals and weddings spur demand, said billionaire jeweler T.S. Kalyanaraman.
The pickup in shipments from mid-year will help overseas purchases over 2014 match the 825 metric tons imported in 2013, Kalyanaraman, chairman of the Thrissur-India based Kalyan Jewellers Ltd., said in an interview. The curbs on bullion will probably be removed as smaller jewelers are struggling to get raw material, spurring increased smuggling, he said yesterday.