India imported gold jewellery worth USD 137.57 millon in the four months from April to July this year -- a fraction overall bullion imports.which were YSD 2.9 billoin in july alone.
India , the world's biggest buyer of bullion, hada imported a record 162 tonnes in may and creating a headache for the government which is trying to curb a wide current account deficit and support a weak rupee.
Gold the biggest non essential item in indi's import bill but jewellery is a tiny fraction of the purchases.
The hike in import duty on jewellery had been a demand from the industry to ensure the viability of the domestic jewellery manufacturing, and avoid imports of cheaper jewellery from thailand, Malysia or elsewhere.
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