Gold imports are estimated to have jumped about five-times to around 95 tonnes in September, helped by spurt in demand in festival season and falling global prices, an industry expert said on Wednesday.
"The import of the yellow metal is estimated to be around 95 tonnes during this September," All India Gems and Jewellery Trade Federation Director Bachhraj Bamalwa told the news agency.Gold imports were at around 15-20 tonnes in September 2013, he said.
"The imports rose mainly due to decline in price in global markets, which reduced year-on-year by nearly 10-15 per cent. The September imports is a very normal phenomenon as jewellers require stocks to manufacture for the festive season," he added.There were hardly any imports during September last year due to several restrictions by the Government in order to control Current account deficit.