India likely to import 900-1,000 tonnes of gold in financial year 2015-16: MMTC

The value of India's gold imports could plunge over 18 per cent to US$28 billion this fiscal year due to lower prices and despite likely higher volumes, the head of the country's biggest gold refiner said, helping to narrow the trade deficit. Gold is India's second-biggest expense on the import bill after oil, and purchases of US$54 billion two years ago forced the government ..... Read More