Tuesday, April 22nd 01:17 PM IST

India raises import tariff value of Gold to $431 per 10 grams

# India Gold  

India has raised import tariff value on gold and silver to $431 per 10 grams and $646 per kilo grams on Wednesday.

NEW DLEHI (Bullion Street): India has raised import tariff value on gold and silver to $431 per 10 grams and $646 per kilo grams on Wednesday.

During the first fortnight of the current month, tariff value on imported gold was fixed at $421 per 10 grams and silver at $644 per kilo grams.

Due to government curbs, the country's total gold and silver imports dropped 40 per cent to $33.46 billion in 2013-14, as against $55.79 billion in the previous year.

Gold is the second largest import item for India after petroleum. The government had taken several measures to curb gold shipments to address the high current account deficit.

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