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India's gold imports likely to fall on lower inflation - Rajan

Source : REUTERS
Last Updated: Wed, Feb 27, 2013 12:00 hrs

NEW DELHI, Feb 27 (Reuters) - India's gold imports are likely to come down because of lower inflation and more attractive financial instruments for saving, the finance minister's top economic adviser said on Wednesday.

Gold, used as an inflation hedge by Indian savers, is a major driver of the country's record current account deficit and the government raised tariffs on imports of the metal this year. Inflation has trended downward in recent months.

(Reporting By Rajesh Kumar Singh; Writing by Frank Jack Daniel; Editing by Arup Roychoudhury)




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