India is the world's second biggest consumer of gold
India's gold imports plunged more than 73 per cent year-on-year in March to their lowest in six-and-a-half years as record domestic prices and a lockdown to curb the spread of coronavirus squeezed retail demand, a government source said on Monday.
The world's second biggest consumer of the precious metal imported 25 tonnes of gold in March, down from 93.24 tonnes a year ago, the source said, who is not authorised to speak to the media.
In value terms, March imports dropped nearly 63 per cent to $1.22 billion, he added.
