State-run STC will import six tonnes of gold to boost supply of the precious metal in the domestic market.
Written by Press Trust Of India
New Delhi |
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State-run STC will import six tonnes of gold to boost supply of the precious metal in the domestic market during the festival season,an official said.
There is supply crunch in India and demand is also higher because of the festival season8230; we have been asked to import 6 tonnes of gold in two tranches to meet the rising demand, a senior STC official told PTI.
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The allocation order has been issued by the Directorate General of Foreign Trade DGFT,he added. Gold in the domestic market is being sold at a high premium as there is a supply crunch due to import curbs by the government.
