Rising gold imports in India: An explainer

Rising gold imports in India: An explainer

New Delhi: As Prime Minister Narendra Modi has appealed for austerity measures in view of the tensions in West Asia, India’s rising gold imports are drawing attention. Emphasising that the Centre is trying to shield people from the adverse impact of the conflict in West Asia, Modi on Sunday called for judicious use of fuel, postponement of gold purchases and foreign travel, among other measures, to strengthen the economy. Here are a few question…

Modi Links West Asia Calm to Cheaper Fuel, Gold, and Smoother Maritime Trade

Prime Minister Narendra Modi on Monday connected the de-escalation of West Asia tensions to direct gains for India’s economy, including steady petrol-diesel prices, lower gold costs, and reliable maritime trade routes critical for energy imports. Addressing a rally in Hyderabad, Modi said the region’s stability has dodged a severe energy shock. “West Asia’s improvement has shielded our economy—no fuel price spikes, falling gold rates aiding wedd…