Gold Dore Bar Imports in India 2017 – List of Gold Bar Importers in India

17 February 2018
Gold Import Data

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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