efd-services (LIVE CHAT) Indias trade minister wants gold import curbs eased Indias trade minister said on Tuesday he had raised the issue of easing some curbs on gold imports with the finance ministry, as they were encouraging smuggling and hurting the gems and jewellery industry, an important export sector. The government imposed the restriction on imports last year, in order to narrow a worryingly high current account deficit, and any relaxation of the curbs could revive Indian demand and support global prices. We have to have a balance. Over-regulation, too much of tariffs, lead to another problem ... of smuggling, Trade Minister Anand Sharma told a news conference. We have to ensure adequate availability of gold for the gems and jewellery industry, which is a very important sector for our exports. Finance Minister P. Chidambaram said last month he would cap the current account deficit below $45 billion as against $88 billion last year.
Posted on: Tue, 04 Mar 2014 10:42:05 +0000
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