Categories: Economy

India’s gold imports increased by 33.34% to Rs 46.14 billion in 2021-22

According to the official data, the import of gold in India has been rose by 33.34% to Rs 46.14 billion on account of higher demand in 2021-22. The import of gold in 2020-21 was about Rs 34.62 billion. The increase in gold imports has contributed to the widening of the trade deficit to $192.41 billion, against $102.62 billion in 2020-21.

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India is the world’s second-biggest gold consumer after China. The imports are largely driven by the jewellery industry. The export of gems and jewellery grew by about 50% to about $39 billion during 2021-22.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.