Gold imports likely to fall on lower inflation: Rajan
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)
- Tweet this
- Share this
- Digg this
- Israel extends Gaza ceasefire for 24 hours, Hamas rejects terms
- L&T Q1 revenue $3.2 billion, beats analyst estimates
- Reliance Power to buy Jaiprakash's hydropower business
- Australia approves Adani's $16 bln Carmichael coal project
- Fighting complicates Ukraine crash probe, U.S., EU prepare Russia sanctions