Gold imports unlikely to decline despite duty hike: Nomura
By Ira Dugal | Published On: January 22, 2013 13:45 (IST) | Duration: 8 min, 48 sec
The government on Monday hike import duty on gold by 2 per cent to 6 per cent. However, gold imports are likely to decline very marginally in FY14, says Sonal Varma, India economist at Nomura India. She says the other measures announced may help bring down domestic holdings of gold into the financial system, but it's too early to tell what the impact of those measures will be.