Gold Dore Bar Imports in India 2017 – List of Gold Bar Importers in India
17 February 2018
India is the sixth largest gold importer country in the
world after Switzerland, China, UK, UAE and Hong Kong. India is also largest
gold consumer country in the world. India gold imports stood at USD 30626
million during the year 2017 and imported half of the total gold from
Switzerland only. The country is receiving maximum gold shipments from Delhi
Air i.e. 45% of the total quantity.
According to World Gold Council, imports are high in the
country because of the large population. Gold dore bar in unwrought form is the most
demanded gold product that India imports majorly. As per the gold import
report, India has recorded approximately 98% of the value from gold dore bar in 2017. In import export business, gold is traded into four categories in the
global market as mentioned below.
·
Gold bar in unwrought form classified under HS
Code 71081200.
·
Gold in other semi-manufactured forms classified
under HS Code 71081300.
·
Monetary gold classified under HS Code 71082000.
·
Gold powder for non-monetary purposes classified
under HS Code 71081100.
The report released by Export Genius has covered the all the shipments of gold and found the import of gold dore bar in the product description. As per the report, we have reached on a conclusion that Indian companies importing only gold dore bar. To avoid high import duty (10%) on gold dore bar, they import it in other HS codes of gold. We have analysed the Indian Gold bar import report on the basis of monthly imports, purity of imported gold, gold importers, import partner countries and Indian ports.
Read Here India Gold Import Report of Jan-Mar 2017
A Brief Look at Gold Industry in India
The demand for gold in India has always been rise on the
rise since past years. The gold in the form of exchange traded fund is rising
and purchases of gold have been rising faster than jewellery purchases. India’s
per capita gold consumption is only 0.7 grams recorded half that of the USA and
one-third of the middle-east countries. To meet the consumption in the country,
India imports gold on a large scale from other richest countries. The higher
purchasing power of the lower and middle income group of the Indian population
has brought new customers in the market. To reduce the jewellery imports, Indian
government has permitted 100% FDI (foreign direct investment) in the sector
under the automatic route.
Annual Gold Dore Bar Import in India 2017 - Month Wise Analysis
Export Genius
released an analytical report on India gold import, it showed highest gold
imports in the May (USD 4184 million) and lowest imports in the month of August
(USD 1183 million) during the year 2017. Check the following table to know the
month wise analysis of India gold imports in 2017.
Month (2017) |
Value (USD Million) |
January |
1813 |
February |
3535 |
March |
4026 |
April |
3020 |
May |
4184 |
June |
2221 |
July |
1453 |
August |
1183 |
September |
1305 |
October |
2362 |
November |
2497 |
December |
3023 |
Gold Purity Grades Imported by India
India majorly imports gold with the purity of 95-100%. It
recorded that 73% of the total gold imports are imported with this amount of purity.
Selling gold with the high purity is the key to grow your business in Indian
market. The customers mainly invest in jewellery to make it their assets, so
they try to purchase only pure gold. However, gold with the purity of 90-94%
recorded second highest import value with the share of 11.60% of the total. Refer
the below table to check the import shares of pure gold in the different
category.
Purity (%) |
Value (%) |
100-95 |
73.21 |
94-90 |
11.60 |
89-85 |
3.95 |
84-80 |
3.16 |
79-75 |
2.70 |
*Above stats are based on 2017 report
List of Gold Dore Bar Importers in India
According to India gold import data, it is recorded that
there are more than 80 gold importers in the country. Rajesh Exports Limited has
still maintained its market and stood as the largest gold importing company in
the country. Gold is one of the costly products and the company needs large
capital to import it from foreign countries. Gold importers are mainly banks
and giant market players. The small and mid-size companies mainly don’t import directly,
they contact these banks and then sell it into the market. Here is the list of
gold importers in India.
·
Rajesh Exports Ltd.
·
MMTC Pamp India Pvt. Ltd.
·
Yes Bank Ltd.
·
The Bank of Nova Scotia
·
HDFC Bank Ltd.
·
Axis Bank Ltd.
·
State Bank of India
To get the complete list of gold importers in India, buy the gold bar import data of India released
by Export Genius and find out new business partners.
10 Largest Gold Import Partners of India
During 2017, India has imported gold from 30 countries
across the world including Switzerland, United Arab Emirates, Ghana, South
Africa, United States, Peru etc. India is importing half (51.66%) of its gold
from Switzerland only and recorded USD 15821 million in 2017. As per Gold
Import Report of India, around 25 Indian gold importers have imported gold in
different forms from Switzerland. You can go to the following table to know the
trade figures with Indian gold import partners.
Country |
Value (USD Million) |
Share (%) |
Switzerland |
15821 |
51.66 |
United Arab Emirates |
3333 |
10.88 |
Ghana |
2382 |
7.78 |
South Africa |
1918 |
6.26 |
United States |
1580 |
5.16 |
Peru |
1224 |
4.00 |
Tanzania |
603 |
1.97 |
Australia |
577 |
1.89 |
Bolivia |
555 |
1.81 |
Burkina Faso |
477 |
1.56 |
*Above stats are based on 2017 report
India Imports of Gold Bar – Port Wise Analysis
The gold is importing into India from its 11 air ports.
Delhi Air, Bangalore Air, Chennai Air, Ahmedabad Air and Kolkata Air are the
five largest ports from where India imports gold. The country arrived maximum
gold shipments at Delhi Airport. India recorded 43.68% of value and 45.39% of
quantity from Delhi Air during 2017. Here is the table representing gold share
of value and quantity of top five Indian ports.
Indian Port |
Value (%) |
Quantity (%) |
Delhi Air |
43.68 |
45.39 |
Bangalore Air |
16.10 |
14.51 |
Chennai Air |
14.31 |
13.69 |
Ahmedabad Air |
10.51 |
13.02 |
Kolkata Air |
5.64 |
4.64 |
*Above stats are based on 2017 report
Reasons to Buy Gold Import Report of India
First, check the sample of gold import data of India which
will give you a fair idea about the data fields that are covered in our trade
report.
Date |
09 January 2017 |
Importer
Country |
India |
Exporter
Country |
South Africa |
Indian
Port |
Coimbatore Air |
HS
Code |
71081200 |
Product
Description |
1 KG Gold Bar 995 Fine Engraved SL No.
And Weight Expressed - In Metric Units Bar No. SQB14451 to SQB14650 |
Purity |
100-95 |
Quantity |
200 KGS |
Total
Value |
USD 7440000 |
Invoice
Value |
USD 37328 |
Importer
& Exporter Name |
Available on Purchase Only |
The more details like importer-exporter name and its address
and other shipments details will be available offline only. Subscribe for gold
import data and get customized report as per your requirement. The thing is – “what
will you get in our gold trade report”?
·
Who are the largest gold buyers in India?
·
Who are largest gold suppliers in foreign
countries?
·
At what rates, India is importing gold bar from
foreign countries?
·
How much gold bar shipments arrived at Indian ports?
·
Which gold purity is imported maximum by India?
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