December 18, 2019 / 11:08 AM / 2 months ago

India restricts import of gold, silver in powder and unwrought forms

A man melts gold at a refinery in Ahmedabad April 19, 2013. REUTERS/Amit Dave/Files

MUMBAI (Reuters) - India on Wednesday restricted imports of gold and silver in the powder and unwrought forms, the government said in a notification.

The world’s second biggest gold consumer fulfils most of its requirement through imports.

Gold and silver in powder and unwrought forms are mainly used for industrial purposes and not for jewellery making, industry officials said.

Reporting by Rajendra Jadhav; editing by Jason Neely

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