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The Economic Times
The Economic Times
Business

Customs duty hike impact: Gold imports contract to USD 2.3 billion in August

United States Gold silver India Switzerland

India's gold imports contracted in August following a sharp increase in customs duty on the precious metal, according to the data released by the commerce ministry.

Gold imports dipped by 57.75 per cent to USD 2.3 billion in August, the data showed. However, silver imports rose by 127 per cent to USD 1.02 billion during the month, the data showed.

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