Thanks to refining industry, unrefined gold import surges to a new high

Make in India concept is at-least working for bullion industry in India.  At 89.8 tons, India's unrefined gold import in the first three quarters of 2018 was highest since the country started refining gold.

The reason for increasing import of dore, year after year, is that post GST implementation refining disparities have nullified and industry is actively pursuing global gold mines to ensure enough supplies.

James Jose, secretary, Association of Gold Refineries and Mints said, “we estimate in 2018 India will be meeting 50 per cent of the domestic gold demand by gold refined in India. Last