The Phaserl


India’s commerce ministry calls for easing of gold import restrictions

by Shivom Seth,

India’s commerce ministry has asked its finance counterpart to ease the restrictions on the import of gold, imposed by the Reserve Bank of India, in an effort to push exports.

In a letter to Economic Affairs Secretary Arvind Mayaram, Commerce Secretary S R Rao has asked him to “look into the matter” with regard to gold imports by exporters and, issue necessary instructions to the RBI for the removal of the anomaly. “The commerce department is repeatedly receiving representations from stakeholders in the matter and our exports are suffering,” Rao said in the letter.

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