Despite the recent reduction in the trade deficit in India, it is planned to maintain the current restrictions on gold imports.
The active lobbying of the participants in the Indian market of gold bars, which are trying to deal with high premiums and supply shortages, could not convince the government, which fears that the trade balance will deteriorate and the national currency rate will fall again. According to a high-ranking official from the Ministry of Finance, at the moment no proposals are being considered to mitigate measures aimed at limiting the import of gold.
In recent months, the Indian government and the central bank have taken a number of measures to reduce imports of gold, which ranks second in import value in the Indian trade balance.