Economics
Gold Imports by India Slump in First Half on Curbs
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Gold shipments into India, the biggest user after China, probably plunged 77 percent in the first half as government restrictions to contain a record current-account deficit increased costs and deterred buyers.
Purchases tumbled to 150 metric tons in the six months through June from 650 tons a year earlier, said Bachhraj Bamalwa, a director at the All India Gems & Jewellery Trade Federation. Imports in the second half will depend on government policies, he said.