India's gold imports value to hit 100 billion US Dollars by 2015 on the doubled import tax

Source: Commodityonline
Indian value of the gold imports is likely to approach 100 billion US Dollars by 2015-2016, reported ASSOCHAM. However, the 4% import duty is not enough to fully control yellow metal's imports and further increase in gold's import tax have to introduced, the report added. Moreover, the India's government may launch public awareness campaign to direct the public savings to investing in assets other than the precious metal, the report suggested.
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