Import of Gold

Quantum and value of gold imported during the last three years is as under:

Reserve Bank of India vide circular dated 22.7.2013, prescribed all nominated banks/agencies to ensure that at least 1/5th i.e. 20% of every lot of import of gold imported to the country is exclusively made available for the purpose of exports and the balance for domestic uses.  The scheme was modified from time to time vide circulars dated 14.8.2013, 31.12.2013, 14.2.2014 and 21.5.2014.  This scheme has since been withdrawn vide RBI circular dated 28.11.2014.

Export of Gold Jewellery  during the last three years is as under:

(HS CODE:71131910, 71131920, 71131940, 71141910, 71142010)

This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today.