India's gold imports fell by 36.48 per cent to US$3.53 bn in November, data released by the Commerce Ministry showed on Tuesday.
India had imported gold worth US$5.57 bn in the same month last year.
According to the All India Gems & Jewellery Trade Federation, gold imports are expected to cross 1,000 tonnes this year as against 900 tonnes in 2014.
Import of both gold and silver has declined in value terms in November this year, according to the Commerce Ministry.
Silver imports declined by over 55 per cent to US$285.01 million in November this year from US$643.71 million in the year-ago period.
Import of pearls, precious stones and semi-precious stones declined by 53.49 per cent to US$977.51 million from US$2,101.75 million in the same period.
As per the Commerce Ministry data, exports of gems & jewellery fell by about 22 per cent to US$2.89 billion in November this year from US$3.68 billion last year