Import stats for gold, silver, electronics lowered for Apr-Nov

The central government has revised downwards the import data for precious metals such as gold and silver by $11.69 billion and $950 million, respectively, during the first eight months of the financial year (2024-25), Directorate General of Commercial Intelligence and Statistics (DGCI&S) data showed.

- SHREYA NANDI

The decline in gold imports, in terms of value, amounted to a substantial $11.69 billion, reducing the total to $37.39 billion during April-November.

The government has also revised the electronics import value for this period downward by $2.7 billion to $61.2 billion.

It said the latest figures could further be revised.

According to the data released on December 16, the cumulative import of the yellow metal was initially reported as $49 billion. The most sizeable revision was in November when gold imports were reduced by $5 billion to $9.8 billion. In the case of silver, the revision was smaller. Imports were reduced to $480 million from $660 million in November. On a cumulative basis, silver imports declined by $950 million to $2.33 billion, the data showed.

DGCI&S, which operates under the administrative control of the Department of Commerce, compiles and disseminates India's merchandise trade statistics. Data compiled by DGCI&S is also shared with global agencies such as the World Trade Organization and the International Monetary Fund.