Gold imports likely to fall on lower inflation: Rajan

NEW DELHI Wed Feb 27, 2013 10:30pm IST

Chief economic adviser Raghuram Rajan pauses during a news conference in New Delhi February 27, 2013. REUTERS/Adnan Abidi

Chief economic adviser Raghuram Rajan pauses during a news conference in New Delhi February 27, 2013.

Credit: Reuters/Adnan Abidi

Related Topics

NEW DELHI (Reuters) - India's gold imports are likely to come down because of lower inflation and more attractive financial instruments for saving, said Raghuram Rajan, the finance minister's top economic adviser, on Wednesday.

Gold, used as an inflation hedge by Indian savers, is a major driver of the country's record current account deficit and the government raised tariffs on imports of the metal this year. Inflation has trended downward in recent months.

(Reporting By Rajesh Kumar Singh; Writing by Frank Jack Daniel; Editing by Arup Roychoudhury)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Kashmir Package

Kashmir Package

Modi announces relief package for flood-hit Kashmir.  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

U.S. Economy

U.S. Economy

Spectre of no-inflation world looms over Fed's return to normal  Full Article 

Insider Trading

Insider Trading

Rengan Rajaratnam, SEC to settle civil insider trading charge.  Full Article 

Market Watch

Market Watch

Betting on the beaten up? Investors pin hopes on stocks in Europe, Japan.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage