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Gold Imports by India Said to Surge This Year as Curbs Scrapped

Gold imports by India, the world’s second-biggest user, jumped in the first 10 months of this financial year as the government eased curbs on overseas purchases.

Shipments jumped to about 940 metric tons from April through January, said two government officials with direct knowledge of the matter, asking not to be identified as the provisional data isn’t public. Finance Ministry spokesman D.S. Malik didn’t answer two calls to his mobile phone. Purchases fell 35 percent to 662 tons in 2013-2014, according to the Commerce Ministry.