Indian imports dependant on ban
Duncan Richardson, News Editor
3 Feb 2014, 11:40 a.m.
Haresh Soni, Chairman of the All India Gems & Jewellery Trade Federation has predicted that gold imports into India will drop below 500 tonnes if the Government does not lift the current gold import tax. Soni is predicting that Jewellery sales are likely to decline by up to 30% and manufacturing production by 40% if the 10% gold import tax remains.