Lok Sabha Question No. 3195 (UNSTARRED), answered on 2016-12-05
Subject: Gold Imports
Ministry: COMMERCE AND INDUSTRY
Asked by: GAJANAN CHANDRAKANT KIRTIKAR, KUNWAR HARIBANSH SINGH, T. RADHAKRISHNAN, VIJAY KUMAR S.R., SUNIL BALIRAM GAIKWAD, BIDYUT BARAN MAHATO, NALIN KUMAR KATEEL

## GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY (DEPARTMENT OF COMMERCE)

## LOK SABHA UNSTARRED QUESTION NO. 3195 TO BE ANSWERED ON 05 th  DECEMBER, 2016

## GOLD IMPORTS

3195.  SHRI GAJANAN KIRTIKAR:

KUNWAR HARIBANSH SINGH:

SHRI T. RADHAKRISHNAN:

SHRI S.R. VIJAYAKUMAR:

DR. SUNIL BALIRAM GAIKWAD:

SHRI BIDYUT BARAN MAHATO:

SHRI NALIN KUMAR KATEEL:

Will the Minister of COMMERCE & INDUSTRY ( वाͨणÏय एवं उɮयोग मंğी ) be pleased to state:

- (a) whether the gold imports have more than doubled in October this year, arresting the eight month fall in gold imports;
- (b) if so, the details thereof and the reasons therefor;
- (c) the quantum and value of gold imports during each of the last twelve months;
- (d) whether  the  increase  in  gold  imports  has  pushed  up  the  trade  deficit  and  has  also impacted the current account deficit in the said period; and
- (e) if so, the details  thereof  and  the  corrective  measures  taken/being  taken  by  the Government in this regard?

## ANSWER

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THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (INDEPENDENT CHARGE)

(SMT. NIRMALA SITHARAMAN)

- (a) to (c) There has been increase in gold imports in the month of October 2016 over the previous few months.

The Quantum and value of gold imports during each of the last twelve months;

|        | IMPORT OF GOLD   | IMPORT OF GOLD   |
|--------|------------------|------------------|
| MONTH  | QTY(TON)         | VAL(BILLION USD) |
| OCT-15 | 48.73            | 1.68             |
| NOV-15 | 109.99           | 3.54             |
| DEC-15 | 121.84           | 3.81             |
| JAN-16 | 93.30            | 2.91             |

| FEB-16   |   48.28 |   1.41 |
|----------|---------|--------|
| MAR-16   |   26.82 |   0.97 |
| APR-16   |   31.02 |   1.24 |
| MAY-16   |   46.57 |   1.47 |
| JUN-16   |   39.47 |   1.21 |
| JUL-16   |   26.48 |   1.08 |
| AUG-16   |   25.73 |   1.12 |
| SEP-16   |   50.5  |   1.8  |
| OCT-16   |   99.62 |   3.5  |

Source: DGCI&S

- (d) Total trade deficit  and  value  of  import  of  Gold  in  last  12  months  and corresponding year before are as follows.

| Period                        |   Value of import of Gold USD Billion |   Trade deficit (USD Billion) | Import of Gold as a percentage of total Trade deficit   |
|-------------------------------|---------------------------------------|-------------------------------|---------------------------------------------------------|
| November 2015 to October 2016 |                                 24.06 |                         93.76 | 25.66%                                                  |
| November 2014 to October 2015 |                                 34.64 |                        129.58 | 26.73%                                                  |

S Source: DGCI&S

- (e) During  the  period  of  last  12  months  as  compared  to  previous  12 months, value of imported gold as well as trade deficit has declined. As such no corrective measures are under consideration.

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