Low imports cast shadow on industry growth; no recovery soon, say experts

Non-oil, non-gold imports contract for 9th straight month in July

Non-oil and non-gold imports contracted for the ninth straight month in July, casting a shadow on recovery in industrial growth in the coming months.

Non-oil, non-gold (NONG) imports are considered a barometer for domestic demand. It fell 9 per cent in June, the steepest fall this financial year (2019-20 or FY20). In April and July, it fell 2 per cent each, and in May it fell by 1.3 per cent.

Economists do not see any recovery soon.

“The segment consists of some consumer goods and a lot of raw materials and intermediate goods. At a time when investment appetite in