India imported $6.2 billion worth of gold in April, owing to high market demand.
Due to the national lockdown, gold imports were only $2.83 million over the same time last year.
India’s trade deficit increased to $15.1 billion in April 2021, up from $6.76 billion a year before.
Silver imports, on the other hand, decreased last month, according to Commerce Ministry reports. Silver imports totaled $11.90 million over the analysis era, down from $103.75 million in April last year.
India’s merchandise imports increased to $45.72 billion in April 2021, a 167.05 percent raise over $17.12 billion in April 2020.
Exports increased to $30.63 billion, up 195.72 percent from $10.36 billion in April 2020.