MMTC to import Rs 8,000 cr worth gold in FY18

Plans auction of gold collected through monetisation scheme

MMTC Ltd, country's largest foreign trading company, aims to import Rs 8,000 crore worth of gold in FY18 on the back of government action to restrict unofficial gold imports.

"We have clocked Rs 5,000 crore gold imports till December 2016 in the current financial year. In the last two months, the government has taken some step to control the unofficial imports. This month the imports have improved. We hope, if the duty is rationalised in the future, the parallel imports which were taking place will stop in future and import of gold through the official channel will rise. As far as