MUMBAI Jan 22 India, the world's biggest buyer
of gold, raised import duty on dore bars and ores to 5 percent
from 2 percent, a day after increasing tax on processed yellow
metal to 6 percent.
Most of the 100 tonnes of dores imports is consumed by MMTC
PAMP and Rajesh Exports. India's total
annual gold consumption is about 900 tonnes.
Rising import of the yellow metal has been worrying the
federal government battling with a record high current account
deficit, which hit its highest of 5.2 percent to the gross
domestic product in the September quarter.
(Reporting by Siddesh Mayenkar; Editing by Gopakumar Warrier)