Import is returning to the normal prevailing three years ago
Report says gold being exported by persons of Indian origin and routed through Dubai
Prices have remained lower this year.
Attractively low prices, rising demand and a favourable ratio to gold point to better days ahead for the white metal.
By December 2015, the total imports will touch 1000 tonnes.
Mehta's export company is the largest integrated gold player in the world.
The rise was due to a sharp fall in prices, which spurred demand.
Demand to remain high with festive season ahead and ongoing price fall
India is still the best story in major emerging markets from a 5-year perspective.
India's gold import bill, estimated at $3 billion in May, is seen falling further this month
The government has retained 10% duty on import of the yellow metal.
Gold has held up better than many expected.
India Inc closed FY15 on a positive note.
Gold import this financial year is estimated at 945 tonnes.
The gold market has remained under pressure.
Traders have used this as an opportunity to stock up silver.
This time, RBI can cut rates to reflect the improved fundamentals and to further shrink the arbitrage window.
In the past two years, investors in gold have lost money.
Trade sanctions on Russia by Europe and the US offer an opportunity for India, but the devaluation of the rouble may play spoilsport
The rouble has been falling steadily since early November and collapsed earlier this month following a spectacular decline in the price of crude oil to five-year lows.
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