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Indian FinMin: Restrictions on Gold Imports To Continue

India’s Finance Minister, Palaniappan Chidambaram, does not believe a rollback of restrictions in place in the country to slow gold imports is on the agenda.

The measures were introduced last year to shrink the country’s trade deficit.

Chidambaram’s comments come after media reports suggested that Sonia Gandhi, leader of India’s ruling Congress Party, had sent a letter to the Indian government requesting that gold import restrictions be eased. Import duty in India is 10 percent, while 20 percent of Indian gold imports must leave the country as exports.

CNBC [1]

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Mingze Wu

Mingze Wu [6]

Currency Analyst at Market Pulse [7]
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu
Mingze Wu

+Mingze Wu [10]