Government revises November gold import figures from $14.8 billion to $9.9 billion
New Indian ExpressNEW DELHI: The sharp jump in November merchandise trade deficit was because of a clerical error. The Directorate General of Commercial Intelligence and Statistics on Wednesday revised India’s gold import figure for November 2024 from $14.8 billion to $9.9 billion—a decline of 33%. The November goods trade deficit rose to an all-time high of $37.8 billion due a massive year-on-year surge in gold imports. However, on Wednesday DGCI&S, an organisation under the Ministry of Commerce, for collection, compilation and dissemination of trade statistics – revised the November gold import data without any explanation. The downward revision in gold import should cut India’s goods trade deficit in November to $32.7 billion from the earlier $37.8 billion, if everything else remains the same.