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Coronavirus impact: India's gold imports plunge 99.9% in April

In value terms, April imports dropped to $2.84 million from to $3.97 billion a year ago

twitter-logoReuters | May 5, 2020 | Updated 09:00 IST
Coronavirus impact: India's gold imports plunge 99.9% in April

India's gold imports plunged 99.9% year-on-year in April to their lowest in nearly three decades as air travel was banned and jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus, a government source said.

The world's second biggest consumer of the precious metal imported around 50 kilograms of gold in April, down from 110.18 tonnes a year ago, the source said on Monday, who is not authorised to speak to the media.

In value terms, April imports dropped to $2.84 million from to $3.97 billion a year ago, he added.

Also read: Gold price today: MCX Gold surges on spot demand

Also read: Coronavirus Lockdown Live Updates: India's total COVID-19 cases near 43,000; liquor to cost more in Delhi

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