Gold imports increased by more than 300%; Record-breaking sale in India

These people are investing in Gold a lot. In fact, Gold imports in November stood at $ 14.8 billion, which is 331 percent more than in November last year. The total import of goods in November was $ 70 billion and the share of gold in it was 21 percent. With this increase in gold imports, the trade deficit in November increased to $ 37.8 billion, which is the highest level so far.

It is believed that in view of the huge fluctuations in the stock market for the last two to three months, the attraction of investors towards gold is increasing. On the other hand, the export of goods in November stood at $32.11 billion, which is 4.83 percent less than in November last year. In November, the export of petroleum products declined by 49 percent as compared to November last year and this is mainly due to which the total export of goods has declined.

According to the data of the Ministry of Commerce, the total import of goods from April-November in the current financial year 2024-25 was $ 486 billion, and gold accounts for more than 10 percent share in it. In April and November this year, gold imports stood at $ 49 billion. But, the Commerce Ministry says, due to the increase in gold prices, more increase can be seen in gold imports.

The good thing on the export front in November is that the trend of increase in the export of employment-oriented goods continues. Engineering goods went up by 13.75 percent, electronic goods by 54.72 percent, readymade garments by 10 percent, manmade yarn-fabric by five percent, tea by 15 percent, coffee by 16 percent, and rice by 95 percent in November.