India imported a record 160 tonnes of gold in March as per a report on Reuters. This marks a 471% surge on a year-on-year basis for the yellow metal's import data.
In value terms Reuters reports , March imports surged to $8.4 billion from $1.23 billion a year ago, as per govt sources.
For the Jan-March quarter told gold import stood at 321 tonnes up 191% from 124 tonnes a year ago
Experts cite dropping prices as big boost to demand, gold is down 17% from an all-time high of $2,072 in August 2020. India has also cut import duty in March for the yellow metal.