India's gold imports contracted by 18.4% year-on-year to Rs 719.12bn in the April-June quarter of the current fiscal, according to reports.
Minister of State for Commerce and Industry Jyotiraditya Scindia reported that however, it is difficult to attribute specific reasons for decline in import of gold.
Volume of import of any commodity, including gold, depends on many factors which includes domestic demand, international and domestic prices, exchange rate, duty rates, Minister reportedly said.