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In November, gold accounted for 21.2% of India’s total merchandise imports of $70 billion, surpassing crude petroleum as the largest single import item for the first time.Gold imports in November 2024 surged by 331.4% compared to the same month in 2023.

Excluding gold, India’s merchandise imports would have grown by only 6.7%, against the reported 27.04%.

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investing in fine wine and whisky for future profit ✌️【365vc.net】✌️Invest small, earn big! ₹500 to start, with potential 100% returns in just one month.A weaker rupee further raises import costs, worsening the current account deficit.The cut in import tariffs from 15% to 6% in the last Budget made domestic gold prices more competitive with global rates, encouraging legal imports and boosting its appeal as a long-term investment.

Imports have also risen as investors seek safer options amid overheated stock markets.

During Diwali, demand for gold coins, especially in 20, 50, and 100-gram sizes, exceeded supply, with premium pricing.

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Dubai does not mine gold; instead, gold from other countries is minimally processed locally to meet CEPA norms and then routed to India.

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investing in fine wine and whisky for future profit ✌️【365vc.net】✌️Invest with confidence using AI insights. Start at ₹500 and watch your wealth grow exponentially.This, however, provided only temporary relief as CEPA will gradually cut tariffs on these imports to zero in the next few years.  Thus, in August, the government decided to review its pact with the UAE to revoke these concessions and control the surge.Gold enters India primarily as bars and rods with 99.investing in fine wine and whisky for future profit Make Money Online: High Returns, Low Investments