The country's gold import, which is at a "standstill" now, are expected to pick up and may touch 725 tonnes this fiscal, a top industry body has said.
"The gold import is presently at a standstill, but it may pick up in the next three months till December to 150 tonnes and we expect total imports to touch 725 tonnes in FY'14," All India Gems & Jewellery Trade Federation (GJF) chairman Haresh Soni told PTI on the sidelines of a Bombay Bullion Association (BBA) summit here.
The country imported 354 tonnes of gold in April-September 2013, of which 118 tonnes came in April, 162 tonnes in May, 31 tonnes in June, 41 tonnes in July, 2 tonnes in August and nil in September, Soni said.
The country's total yellow metal consumption is around 900 tonnes a year, of which 600 tonnes goes into manufacturing and 300 tonnes into investments.
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