Commerce Ministry Cuts November Gold Import Data To $9.84 Billion From $14.86 Billion

The commerce ministry has revised downwards the gold import data by $5 billion to $9.84 billion for November, according to the Directorate General of Commercial Intelligence and Statistics.

As per the ministry data released last month, the country's gold imports in November reached a record high of $14.86 billion, registering a four-fold increase.

The commerce ministry examined this unusual surge to see if there were any calculation mistakes made in the compilation of the gold imports data for the month, since the sharp surge pushed the trade deficit to a record $37.84 billion in November.

Based in Kolkata, the Ministry of Commerce arm DGCIS is an organisation for the collection, compilation, and dissemination of India's trade statistics and commercial information.

(With Inputs From PTI)