India Gold Imports Plunge Significantly As Global Prices Fall Below Mark

India's <b>gold imports</b> dropped by 39.9 per cent to USD 24.78 billion during the April-October period, declining from USD 41.24 billion in the previous year. According to data released by the Department of Commerce, October imports alone plunged 62.57 per cent year-on-year to USD 5.51 billion. This sharp decline occurred amid a recent correction in global gold prices, with the precious metal trading below the USD 4,000-per-ounce mark. Meanwhile, India's <b>gems and jewellery exports</b> increased to USD 18.50 billion during the seven-month period, rising from USD 16.49 billion in the corresponding period of the previous year.