India imports of gold from the foreign countries worth USD 30 billion in 2017 and it is classified under HS Code 7108 as per the HSN Code list. Switzerland is the biggest market selling gold to India majorly as more than half of the gold comes from this country. India is also purchasing gold from other foreign countries such as UAE, Ghana, South Africa, USA and Peru. Take a look at gold imports into India by monthly statistics 2017.
Top 3 Gold Buyers in India
As per our trade report, more than 100 companies in India are importing gold from foreign companies. Here, we are describing the trading details of top gold buyers in India with their trade statistics.
Rajesh Exports Ltd
It is the biggest gold buyer in India as it was founded in 1989. The company ranked 295th on the Fortune Global 500 in 2017, with revenues of more than US$ 36 billion, making it the fifth-largest company in India by revenue. Rajesh Exports Executive Chairman is Rajesh Mehta. The company is a giant player & gold retailer in India which refines, designs, and sells gold and jewellery. The company has recorded 13% of the total gold purchased which was USD 3.9 billion during 2017. As per the sources, the company is majorly importing from Switzerland followed by Indonesia. It purchased high purity gold to maintain its market in the country as it imports over 95% purity of gold items.
MMTC Pamp India Pvt. Ltd.
The company was founded in the year 2008 and internationally recognized as the industry leaders for bringing global standards to India in the precious metals business. It is the second largest gold buyer in India which recorded 11% value (3.3 billion USD) of the total gold purchased in 2017. It is importing gold items from many countries such as Switzerland, UAE, Ghana, USA, Tanzania, Australia, Guinea and Brazil. In terms of gold purity, its quality is lower than Rajesh exports and purchase gold with 80% to 90% of purity.
Yes Bank Ltd.
RBI has allowed four more banks to import precious metals, a move that would boost competition and help reduce premiums in the world’s biggest importer of bullion. Yes Bank has recorded third highest gold import value 8.7% of total imports in 2017. Gold import data showed the bank gold import worth USD 2.6 billion from 660 tons of quantity. It imports 95% to 100% purity of gold to maintain Indian market with high excellence. Yes Bank is currently importing from Switzerland, UAE, South Africa, USA, Hong Kong, Singapore and Germany.
List of Gold Importers in India
RBI has permitted Axis Bank, Kotak Mahindra Bank, IndusInd Bank and Yes Bank to import gold. These banks received permission to import gold under the 80:20 scheme. Only six banks and three financial institutions were allowed to import gold under the 80:20 scheme. On a consignment basis, 21 banks, as permitted by the RBI, can import gold and silver. Let’s check the genuine list of gold importers in India.
- The Bank Of Nova Scotia
- HDFC Bank Ltd.
- Axis Bank Ltd.
- State Bank Of India
- Kundan Care Products Ltd.
- M D Overseas Ltd.
- Diamond India Limited
- Punjab National Bank
- Diamond India Ltd
- Kotak Mahindra Bank Limited
- Khandwala Enterprise Pvt. Ltd.
- Mmtc Limited
- Zaveri & Co Pvt Ltd
- Augmont Enterprises Pvt Ltd
- Bank of India
- Union Bank of India
- Icici Bank Ltd
- Diamond Forever International
- AJ Gold & Silver Refinery
- Paraj Exim
- Rail Coach Engineers
- Taj Overseas
- Titan Company Limited
- Taj International Exports
- RG Refineries Private Limited
- Nakoda Unique Gold Pvt Ltd
- H. Exports
- Orelia Refiners Private Limited
- Aiswarya Jewel Crafts
- Hindustan Platinum Pvt Ltd
- The Federal Bank Ltd
- N. Jewellers
How to Access Gold Import Data of India
Here, we are providing the sample of India gold import data with the major data segments which come in trade data.
|Indian Importer Name||Indian Port||Import Country||Export Country||HS Code||Product Description||Qty Kgs||Total Value USD|
|14-Dec-2017||Jindal Exports & Imports Pvt.Ltd.||Delhi Air||India||UAE||71081300||Gold Bar Purity 995% (170 X 1 Kg Each) Bar No. As Per Packing List Attached.||170||
|Jindal Dyechem Industries Pvt Ltd.||Delhi Air||India||UAE||71081300||Gold Bar Purity 995% (96 X 1 Kg Each) Bar No. As Per Packing List Attached.||96||3964800|
|18-Dec-2017||Jindal Dyechem Industries Pvt Ltd.||Delhi Air||India||UAE||71081300||Gold Bar Purity 995% (200 X 1 Kg Each) Bar No. As Per Packing List Attached.||200||
|Jindal Dyechem Industries Pvt Ltd.||Delhi Air||India||UAE||71081300||Gold Bar Purity 995% (54 X 1 Kg Each) Bar No. As Per Packing List Attached.||54||2176200|
|21-Dec-2017||Om Commodity Trading Co.||Delhi Air||India||UAE||71081300||Gold Bar Purity 995% (30 X 1 Kg Each), Bar No. As Per Packing List Attached.||30||
Exim File will provide the complete details of gold buyers in India with their import activities based on genuine shipment records. To buy gold import data of India, contact us and feel free to reach us or fill up the contact form given below.