Analysis of gold Import done by India in financial year 2015-16.
India Imported Gold worth Rs. 2,07,410 crores. India import gold from 45 countries that included even Fiji, Morocco, Virgin Island, Botswana, Turkey other than god hub countries like Switzerland, UAE, Ghana, USA, South Africa, Australia etc.
Here it should be noted that 93% of gold import was done from top countries only. Even in top 10 countries almost 60% gold was imported from Switzerland itself. Though highest Gold reserved are assumed with USA, however Gold import from USA is at no. 4. Surprising entry in top 10 countries is Ghana, and yes, Ghana exported more Gold to India than USA !
Top 10 countries that exported gold to India is as below.
