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India Advisory Body Recommends the Country Discourage Gold Imports
Feb. 20, 2012 09:00AM PST
Precious Metals Investing
Mineweb reported that India’s Economic Advisory Council wants India to focus less on gold imports and more on financial assets.
Mineweb reported that India’s Economic Advisory Council wants India to focus less on gold imports and more on financial assets.
As quoted in the market news:
The Council made the recommendation in its review of the economy that the government discourage gold purchases and instead provide incentives for investment in financial assets because gold accentuates the current account deficit and hence, import of the yellow metal is unsustainable.
