Gold Import in India - Report of Q1 2017 with Gold Buyers in India

01 June 2017
Gold Buyers

India is popular for its diversified culture, language, religion and festivals. Indians mostly buy gold on the occasion of Hindu marriage and annual Hindu & Jain holy festivals such as Akshaya Tritiya, Navratri, Dussehra, Dhanteras, and Balipratipada and so on. The demand of gold in India has always been on the rise since past years. To meet the consumption, India imports gold from other countries. As per gold import data of India, released by Export Genius, the country imported gold worth USD 9321942070 during Jan-Mar 2017. It imported 274534 kilograms of gold in this period. Let’s have a complete analysis below.


1.    Gold Purity-wise Analysis


India imported gold of 94%-90% purity grade the most in Q1 of 2017. As per India import gold report, the country recorded gold of 100%-95% and 89%-85% purity grade as the second and third largest imports under chapter 71. For all trade figures of 5 top gold purities, see below.

 

Purity Wise Analysis

Gold Purity

Value in USD %

Value in USD

Quantity in KG

94%-90%

61.54

5736458363

179642

100%-95%

16.62

1549042941

42907

89%-85%

14.95

1393833977

35164

54%-50%

2.18

203249258

5397

49%-45%

1.19

111022500

2825


 

2.    Top 4 Ports of Gold Imported by India


From Delhi Air (INDEL4), India did maximum import business of gold in first quarter of 2017. Total 241812 kilograms of gold was arrived on this port from different parts of the world. Ahemdabad Air and Chennai Air stood as the 2nd and 3rd largest Indian ports on which shipments of gold arrived during Jan-Mar 2017.




Gold Imported by India

Indian Port

Value in USD %

Value in USD

Quantity in KG

Delhi Air (INDEL4)

87.09

8136886254

241812

Ahemdabad Air (INAMD4)

4.80

448473884

11767

Chennai Air (INMAA4)

3.68

343989202

9653

Bangalore Air (INBLR4)

2.14

200098860

5710

 


3.    5 Largest Gold Exporter Countries of India


Ghana was the largest exporter country, which supplied gold worth USD 4332316969 to India. According to a report on gold dore bars in India, the country also imported gold from other countries as well including Peru, Bolivia and Switzerland. Look at the chart and table to get trade figures of five largest exporter countries of gold imported by India.


Gold Exporter Countries

Exporter Country

Import Value in USD %

Import Value in USD

Import Quantity in KG

Ghana

46.37

4332316969

113754

Peru

17.17

1604337583

42283

Bolivia

12.52

1169913212

58482

Switzerland

8.37

782428588

21753

Colombia

5.49

512811142

13404

 


4.    State-wise Analysis


New Delhi stood as the largest Indian state, which imported gold the most during Jan-Mar 2017. It was followed by Gujarat, Maharashtra and Uttarakhand. If we see gold import data, the share in value of these four states stood at 90.78% in Q1 of 2017. For more data, follow up the chart and table below.




Indian State

Import Value in USD %

Import Value in USD

Import Quantity in KG

New Delhi

35.44

3311370847

115270

Gujarat

31.24

2919065522

76937

Maharashtra

21.99

2054320872

54883

Himachal Pradesh

5.44

508561824

13093

Uttrakhand

2.11

196713231

5347

 

 

5.    Gold Buyers in India


For reference, here are few Indian importers of gold.


Indian Importer

Value USD (%)

Khandwala Enterprise Pvt Ltd

23.09%

Kundan Care Products Ltd

21.87%

Diamond Forever International

8.17%

Zaveri & Co Pvt Ltd

6.55%

Augmont Enterprises Pvt Ltd

5.90%

Aj Gold & Silver Refinery

4.98%

Sunanda Polymers

3.12%

Salasar Synthetics

2.11%

 

In order to clamp down smuggling and make gold available for small and mediums firms, Niti Aaayog, government of India is planning to reduce import duty on gold. Get more information on gold trade and analyse gold import data of India right hereSaveSaveSaveSaveSaveSaveSaveSave

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