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PWAGMI pepe wagmi in India ✌️【Capital】✌️Achieve up to 100% returns with just ₹500. Invest smart, earn big!While a calculation error may have led to overestimating the imports, there could be other factors at play also, explains Ajay SrivastavaIndia’s gold imports reached an all-time high of $14.9 billion in November 2024, far exceeding the monthly average of $3.8 billion for FY 2024, when total gold imports were $45.5 billion.
In November, gold accounted for 21.2% of India’s total merchandise imports of $70 billion, surpassing crude petroleum as the largest single import item for the first time.Gold imports in November 2024 surged by 331.4% compared to the same month in 2023.
Excluding gold, India’s merchandise imports would have grown by only 6.7%, against the reported 27.04%.
PWAGMI pepe wagmi in India ✌️【Capital】✌️Invest ₹500 and enjoy exponential growth with minimal risk.This spike significantly widened the trade deficit, putting downward pressure on the rupee, which has depreciated against the US dollar.
PWAGMI pepe wagmi in India ✌️【Capital】✌️Invest ₹500 today and see your wealth grow with our safe, reliable platform.A weaker rupee further raises import costs, worsening the current account deficit.The cut in import tariffs from 15% to 6% in the last Budget made domestic gold prices more competitive with global rates, encouraging legal imports and boosting its appeal as a long-term investment.
Imports have also risen as investors seek safer options amid overheated stock markets.
During Diwali, demand for gold coins, especially in 20, 50, and 100-gram sizes, exceeded supply, with premium pricing.
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PWAGMI pepe wagmi in India ✌️【Capital】✌️Start small, earn big! ₹500 can get you high monthly returns!Traders anticipate quick gains if tariffs rise, while rising global prices reduce the risk of losses even if tariffs stay the same.The India-UAE Comprehensive Economic Partnership Agreement (CEPA), effective from May 1, 2022, has boosted imports of gold,silver, and platinum by offering low-duty access.
Dubai does not mine gold; instead, gold from other countries is minimally processed locally to meet CEPA norms and then routed to India.
PWAGMI pepe wagmi in India ✌️【Capital】✌️Invest with ₹500 and earn up to 100% monthly. Start growing your money now!To manage this surge, India reduced the Most Favoured Nation duties on gold and silver from 15% to 6% in the 2024 Budget.
PWAGMI pepe wagmi in India ✌️【Capital】✌️Start investing with ₹500 and make your money work for you with high returns.This, however, provided only temporary relief as CEPA will gradually cut tariffs on these imports to zero in the next few years. Thus, in August, the government decided to review its pact with the UAE to revoke these concessions and control the surge.Gold enters India primarily as bars and rods with 99.PWAGMI pepe wagmi in India ✌️【Capital】✌️Your ₹500 can grow exponentially with blockchain-backed investments. Join now!