MRP Synopsis Rupal Goyal New

Indias Import of Gold (included gold plated with platinum) unwrought or semimanufactured forms/in powdered form
MEDI-CAPS INSTITUTE OF
TECHNO MANAGEMENT
MAJOR RESEARCH PROJECT

Titled
INDIAS IMPORT OF GOLD (included gold plated with
platinum)
unwrought or semi-manufactured
forms/in powdered form
A Major Research Project submitted as partial fulfilment for the
award of the
Degree of Masters of Business Administration
(2013-2015)
Under the supervision of:
Submitted by:
Dr.Sanjivni Gangwani
Miss. Rupal Goyal
MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT
MBA (FT) 4th SEM
CERTIFICATE OF ORIGINALITY BY THE STUDENT
I, RUPAL GOYAL here by certify that the project titled INDIAS IMPORT OF GOLD
(included gold plated with platinum) unwrought or semi-manufactured forms/in powdered form
has been undertaken under the supervision of PROF. DR. SANJIVNI GANGWANI, towards
partial fulfilment of degree of Masters of Business Administration (Foreign Trade).
It is further certified that the project report compiled by me is my own work and do the best of
my own knowledge it does not contain any part of any work, which has been submitted for the
award of degree in this university, or any other University/ Deemed University without proper
citation.
Date:
RUPAL GOYAL
Place: Indore
MBA (F.T.) IV SEM
CERTIFICATE OF ORIGINALITY BY THE SUPERVISOR
This is to certify that the project titled INDIAS IMPORT OF GOLD (included gold plated with
platinum) unwrought or semi-manufactured forms/in powdered form is a piece of research work
has been done by RUPAL GOYAL under my guidance and supervision towards partial fulfilment
of degree of Masters Of Business Administration (Foreign Trade).I recommended that the project
to be submitted to Devi Ahilya Vishwa Vidhayalaya (DAVV), Indore.
Prof. Dr. Sanjivni Gangwani
Dr. Manmeet Singh
(Signature of Project Guide)
(Signature and Seal of Director)
DATE:
DATE:
(Signature of External Examiner)

DATE:
PREFACE
Being a student of Masters Of Business Administration (Foreign Trade) I have learned a lot of
things relating to Foreign Trade which mainly includes EXIM policy of India, Document
required in export and import proceeding, World Trade Organization, procurement of finance for
import and export and logistics system of a country . But the topic of my project INDIAS
IMPORT OF GOLD (included gold plated with platinum) unwrought or semi-manufactured
forms/in powdered form unwrought or semi-manufactured forms/in powdered helps me a lot to
learn about the various parameters of trade. The entire above topic gave me a lot of theoretical
knowledge about the Foreign Trade. But I was very keen to know that how the above subject will
help me in practical proceedings. So I am really happy that was provided with an opportunity to
work on the research topic, in which highlighted the Indias commercial trade relation.
This project will give a lot of knowledge and support to the exporter as well as students of
foreign trade, which will flush the knowledge regarding topic.
My project has given all the answer which the laymen and analyst need to know about the Indias
compatibility with the changing economic scenario. I think India still have a competitive edge in
world markets time and this factor now play a far more crucial role in determining international
competitiveness.
ACKNOWLEGEMENT
The effort are always supported and blessed by people directly and indirectly related to you. I
would like to express my thankfulness to some of those who have given their support and
blessings during my research work.
I would like to thank Dr. Manmeet Singh, Director MITM, who has given me opportunity to
work on this project.
I would like to thank Dr. Sanjivni Gangwani, my research guide who has given me all essential
help, which I needed for the successful completion of research project.
I would also like to thank Mr. Gajanan Sir, Library in-charge for providing to the needs
throughout the research work.
I would be failing in my duty if I dont thank my parents, family and friends who have remained
a constant source of inspiration throughout.
Last but not the least; I would like to thank Almighty for always showing me correct part in time
of difficulties.
Name : Rupal Goyal
Research Student, MITM
MBA (F.T.)-IV SEM
INDORE
DATE:
Index
Chapter No.
Contents
Page
No.
Certificate by the Student
Certificate by the
Supervisor
Preface
Acknowledgement
1. Introduction
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1.8
1.9
II
History of gold
Indian and global gold economy
Key facts about Indias gold industries
Factors influencing gold market
International scenario
Research methodology
Objective
Tools for data collection
Hypothesis of study
2.Rationale and
Significance of study
17
III
3. Literature Review
3.1
3.2
3.3
IV
20
Books
News
Articles
4. Indian and International
31
Gold Industries
4.1
World top ten importers ,exporters and

producer
4.2
Indian gold contract
4.3 Indian import policy and schemes

4.4 Government duties , measures and
restrictions
4.5 Indians trade relations with other
countries
5. Data Collection and
45
Analysis
VI
6. Findings
55
VII
7. Conclusion
57
VIII
8. References
59
IX
9. Bibliography
61
CHAPTERi
1. Introduction
Gold is a chemical element with the symbol Au and atomic number 79. Is a dense, soft,
malleable, and ductile metal with a bright yellow colour and lustre that is considered attractive,
which is maintained without tarnishing in air or water. Chemically, gold is a transition metal and
a group 11 element. It is one of the least reactive chemical elements, solid under standard
conditions. The metal therefore occurs often in free elemental (native) form, as nuggets or grains
in rocks, in veins and in alluvial deposits. Less commonly, it occurs in minerals as gold
compounds, usually with tellurium.
Gold resists attacks by individual acids, but it can be dissolved by the aqua regia (nitrohydrochloric acid), so named because it dissolves gold. Gold also dissolves in alkaline solutions
of cyanide, which have been used in mining. It dissolves in mercury, forming amalgam alloys; is
insoluble in nitric acid, which dissolves silver and base metals, a property that has long been
used to confirm the presence of gold in items, giving rise to the term acid test .
This metal has been a valuable and highly sought-after precious metal for coinage, jewellery, and
other arts since long before the beginning of recorded history. Gold standards have sometimes
been monetary policies, but were widely supplanted by fiat currency starting in the 1930s. The
last gold certificate and gold coin currencies were issued in the U.S. in 1932. In Europe, most
countries left the gold standard with the start of World War I in 1914 and, with huge war debts,
did not return to gold as a medium of exchange.
A total of 171,300 tonnes of gold have been mined in human history, according to GFMS as of
2011.[2] This is roughly equivalent to 5.5 billion troy ounces or, in terms of volume, about 8876
m3, or a cube 20.7 m on a side. The world consumption of new gold produced is about 50% in
jewellery, 40% in investments, and 10% in industry.
Besides its widespread monetary and symbolic functions, gold has many practical uses
in dentistry, electronics, and other fields. Its high malleability, ductility, resistance to corrosion
and most other chemical reactions, and conductivity of electricity has led to many uses, including
electric wiring, colour -glass production, and gold leafing.
STORY OF GOLD
The story of gold is as rich and complex as the metal itself. Wars have been fought for it; love
has been declared with it. Ancient Egyptian hieroglyphs portray gold as the brilliance of the sun;
modern astronomers use mirrors coated with gold to capture images of the heavens.
By 325 BC the Greeks had mined for gold from Gibraltar to Asia Minor. In 1848 AD James
Marshall found flakes of gold whilst building a saw mill near Sacramento and so triggered the
gold rush in California. Held securely in national vaults as a reserve asset, gold has an irrefutable
logic; released from the tombs of pharaohs and emperors alike, gold has an undeniable magic.
In Heritage we describe just some of the key moments from golds history. Further sections take
time to discuss important fundamental issues such as the relationship of demand and supply,
golds price history; the golden constant and golds contribution to society. Numbers and
facts draws together some of the more extraordinary statistics which gold has accumulated across
the centuries and around the world.
Gold is the oldest precious metal known to man and for thousands of years it has been valued as
a global currency, a commodity, an investment and simply an object of beauty.
INDIA AND GLOBAL GOLD ECONOMY
Our position in the global gold economy in terms of broad magnitudes can be highlighted with a
few facts. First, the total gold stock in India is estimated at 9,016 tonnes as against the world
stocks of 1,28, 800 tonnes in 1994 giving a share of 7.0 per cent to India. This should be viewed
against our share in land area at 2.4 per cent, in population at 16.4 per cent and in GDP at 1.2 per
cent.
Second, mining and production of gold in India is negligible, now placed around 2 tonnes as
against a total world production of about 2,272 tonnes in 1995.Third, during 1990-95, our share
in global gold demand is placed at about 402 tonnes (16.4 per cent) a year, including imports into
India. This should be viewed against our share of 0.6 per cent in world trade. On the other hand,
India exported about 23 tonnes in 1995 accounting for a negligible part of world trade though
there was a brief period of illegal exports in the early 'seventies and substantial legal exports in
the pre-independence era.
Fourth, it is pertinent to note that world gold trading is concentrated in the U.K., Switzerland,
Dubai, Hong kong , etc. and India does not figure among them.
Fifth, facilities for refining, assaying, making them into standard bars in India, as compared to
the rest of the world, are insignificant, both qualitatively and quantitatively.
Sixth, of the total gold reserves estimated to be on the books of Central Banks (subject to some
Banks not declaring them) of 28,225.4 tonnes, the holdings of Reserve Bank of India are only a
modest 397.5 tonnes. Government of India has in its possession some amount of gold mainly out
of confiscation of smuggled gold remaining after transferring it to the Reserve Bank of India
from time to time. Generally speaking RBI is neither a speaking purchaser nor a seller of gold
reserves, unlike many other countries including some developing economies, especially in Asia.
A part of gold was used by RBI (in parallel with gold with Government) for raising foreign
currency resources during the balance of payments crisis in the early 'nineties. These overseas
gold holdings are being used as part of reserve management to yield a return.
Seventh, use of gold as a financial product is virtually non-existent in India except to a limited
extent of issuing Gold Bonds by Government of India from time to time coupled with
occasional tax amnesty. Commercial banks, however, accept gold as security, but no advances
are permitted for purchase of gold by their customers for non productive use.
KEY FACTS ABOUT INDIAS GOLD INDUSTRIES

India's centuries-old gold industry is the world's biggest market for the metal, with imports
meeting almost all the country's requirements for jewellery and investment. While some aspects
of the industry remain unchanged, some shifts in consumption patterns are striking. Here are
facts on the industry and changes taking place. India in 2009 faced its weakest year since gold
trade was freed up in 1997. Record high prices and a failed monsoon cut imports by 33 percent
from the previous year to 480 tonnes, against an annual range between 600 and 800 tonnes in the
previous five years.
Imports are high partly because of the large population of about 1.2 billion. Per capita gold
consumption is only 0.7 grams, half that of the United States and one-third of the Middle East,
according to World Gold Council (WGC) estimates.
India's gold market is estimated to have more than 300,000 jewellers, mostly small, family-run
businesses, a WGC study showed.
Only 23 banks and some private and government trading agencies have licences to import gold
because of its implications for foreign exchange flows.
India's 2010/11 budget raised the import duty on gold and platinum to 300 rupees ($6.65) per 10
grams from 200 rupees earlier, with the duty on silver raised to 1,500 rupees per kg from 1,000
rupees earlier.
Investment purchases of gold have been rising faster than jewellery purchases. WGC's latest
data shows the investment to jewellery ratio is approximately at 20:80.
Gold in the form of exchange-traded funds is rising. Launched in 2007, the total collection
among six fund houses is more than 10 tonnes.
In urban areas, gold faces competition from diamonds as incomes have risen, but the higher
purchasing power of the lower and middle income sections of the population has brought new
customers into the market.
Large corporate jewellers, such as Titan Industries, Reliance Jewels, Rajesh Exports and the
state-run MMTC Ltd are targeting the retail market with plans to have hundreds of shops, hoping
to rely on branding to push up sales.
FACTORS INFLUENCING THE MARKET
Above ground supply of gold from central bank's sale, reclaimed scrap, and official gold
loans.
Hedging interest of producers/miners.
World macroeconomic factors such as the US Dollar, interest rate and economic events.
Commodity-specific events such as the construction of new production facilities or
processes, unexpected mine or plant closures, or industry restructuring.
In India, gold demand is also determined to a large extent by its price level and volatility.
EXTERNAL SECTOR OF INDIAS GOLD IMPORT

During 2011-12, high trade deficit caused, inter alia, by high gold imports led to worsening of
the CAD. Had the gold imports in India grown by 24 per cent (an average of growth in world
gold demand during part three years) instead of 39 per cent in 2011-12, the current account
deficit would have been lower by approximately US$ 6 billion and CADGDP ratio would have
been 3.9 per cent instead of 4.2 per cent. Thus, gold imports are putting pressure on the Balance
of Payments management. The current trend in quantum of gold imports appears to be making
Indias external sector vulnerable in terms of rising trade and current account deficits, which in
the absence of adequate foreign capital flows, can have implications for maintaining adequate
foreign exchange reserves buffer.
INDIAN AND INTERNATIONAL SCENARIO

Indian Scenario
India, worlds largest market for gold jewellery and a key driver of the global gold demand. The
domestic drivers of gold demand are largely independent of outside forces. Indian households
hold the largest stock of gold in the world. Two thirds of the Indian demand for gold comes from
the rural parts of the country. In 2012, gold's role as an inflation hedge bolstered its appeal in
India. India imported around 850 metric tonne (MT) of gold in 2012. India is known to be among
the largest importers of gold in the world. The imports of gold by India have been rising
unabated in recent years notwithstanding the sustained increase in gold prices. Such large import
of gold, when the gold prices are ruling high is one major source of bulging trade deficit. The
deterioration in current account deficit (CAD) due to large gold imports has implications for
financing the same, which would reduce the foreign exchange reserves and could become a drag
on the external debt. In this context, a major concern emerged is the impact of huge gold imports
on external stability
Global Scenario
London is the worlds biggest clearing house. Mumbai is under India's liberalised gold regime
.New York is the home of gold futures trading. Zurich is a physical turntable .Istanbul, Dubai,
Singapore, and Hong Kong is doorways to important consuming regions. Tokyo, where TOCOM
sets the mood of Japan.
International scenario
Gold, with the chemical symbol AU derived from the Latin word for gold- Aurum, has been the
ultimate symbol of wealth from earliest civilizations to present, covering a period of some 8000
years. Historically used for jewellery, it has also acted as a base for global monetary reserves. It
offers security foremost, then liquidity and income.
Gold usually occurs only in its metallic state. It is commonly associated with sulphide minerals
such as pyrite, but it does not form a separate sulphide mineral. Gold is found in a variety of
environments globally but generally requires grades in excess of 1 gram/tonne (1 part per
million) to be considered economic. Gold can be found in primary ore deposits as fine
disseminations throughout the host rock or as concentrations caused by favourable chemical and
structural environments. Weathering of these primary ores can produce secondary gold
concentrations, often as alluvial gold occurrences (sometimes called placer gold). South Africa,
Australia, Canada and the USA are the world's primary gold producers.
About 95% of South Africa's gold mines are underground operations, reaching depths of
over 3.8 km. Its gold mines have the highest production costs in the industry. South Africa's
main gold producing area is concentrated on the Archaen Witwatersrand Basin.
Discoveries of gold in the basin over a hundred years ago started a gold rush and resulted in
the formation of the city of Johannesburg. The basin is massive and stretches through an arc
of approximately 400 km across the Free State, North West and Gauteng Provinces. Some of
South Africa's major gold producers (producing more than 1 million ounces annually) are
Anglo gold, Goldfields, and Harmony. Due to numerous changes in control and mergers that
have occurred in the South African Gold industry, many of the traditional names have been
made redundant.
Australia contains about 10% of the world's gold resources and is presently ranked 2nd after
South Africa. Western Australia (Capital: Perth) is responsible for 75% of Australia's gold
production and hosts approximately two thirds of Australia's 4500 tonnes gold resources.
Western Australia's gold deposits are hosted by Archaen greenstone belts located in the
Yilgarn carton in north-northwest trending structures.
Australia is the second highest cost producer after South Africa. Gold is Australia's 2nd
biggest export commodity after coal. Some of Australia's major gold producers have been
Rio Tinto and Bar rick gold (these companies have global operations), Aurion Gold,
representing the merged interests of Delta Gold and Goldfields Ltd, and Western Mining
Corporation, once rated as Australia's 3rd largest gold producer with three operating gold
mines as well as a joint venture with other gold producing interests in Canada and
Uzbekistan. It has since sold its gold producing assets to South Africa's Gold Fields and
Newcrest Mining. Placer Dome, rated amongst the top ten gold producers also has major
mining operations in Australia. The USA is amongst the lowest cost gold producer with
production cash costs in the vicinity of US $185 per ounce. The Carlin trend in Nevada has
been responsible for most of USA's gold production providing a stable mining platform for
several major gold producers such as Newmont, Placer Dome and Bar rick. Gold
mineralization in the Carlin Trend is characterized by a large low grade sedimentary
carbonated hosted gold resource. Newmont Mining remains the USA's largest gold producer
and the World's number one in the year 2005 with a production of 199.7 tonnes of gold. The
company was responsible for the discovery of the Carlin Trend in 1961 and has since
developed 17 open pit and 4 underground mines in Nevada. Placer Dome is the second
largest gold producer in the USA with most operations in Nevada and a single mine in
Montana.
This company is one of the world's lowest cost gold producers, with cash costs at the CortezPipeline joint venture with Kennecott Minerals totalling a low US $58 per
Ounce. Canadian gold was discovered in Quebec in 1823, British Columbia in 1852, Nova
Scotia in 1860, Ontario in 1866 and the Yukon in 1896. Prospectors looking for favourable
rock formations in the bush made the early discoveries. Now skilled geologists and
geophysicists use complex exploration techniques to find these formations deep beneath the
surface. Almost 90% of Canadian mines are underground operations, yet high productivity
and other incentives keep the production costs amongst the lowest in the world. Several
major mining companies are actively producing gold from Canada, including Placer Dome,
Bar rick, and TVX Newmont Americas. Gold is also produced as a by-product from most of
the base metal mines in Canada. In Canada, the system of flow- through shares enables
investors to deduct 100% of eligible exploration expenditures from the federal portion of
their taxes
The flow- through share system supports the high and sustained levels of exploration
required to discover new mineral deposits by providing investors with tax breaks for
investments in exploration projects. In the year 2000, the Canadian government also
introduced an Investment Tax Credit for exploration known as the super flow through
system, which allowed investors a 15% tax credit on their flow through share investments in
grass roots exploration projects. It is estimated that the super flow through system has
generated $1.4 billion in exploration spending since its inception in 2000. Resources worth
billions of dollars such as gold at Hemlo, diamonds at Lac de Gras and nickel and copper at
Voisey's Bay- have been discovered in Canada by the grass roots exploration projects of
junior mining companies.
RESEARCH METHODOLOGY
Tools for data collection means the methods followed in a particular decision. The
methodology for collecting data that I have opted for study is the secondary data. Secondary
data refers to that data which are already published or collected.
The study is based on the secondary data from the books, Internet, journals and newsletters.
I had used the secondary data for my study, that are reliable and authentic source and some
data and information have been collected from the starting top importers.
Scanned the related data in magazines and Internet.
Visited different websites related to topic.
Assembling data at one place.
Studied the related useful data and analysed the same.
Arranging the data in presentable format.
Finally compiling the project report.
OBJECTIVES
The basic objective this project is to analysis/compare the import of gold and on the basis of
BILETRAL TRADE AGREMENT

India-Africa Trade
The bilateral relations between the Republic of India and the Republic of South Africa have
grown strong since the end of apartheid in South Africa in 1994. Both nations have since
developed close strategic, cultural and economic ties. India and South Africa also share an
extensive energy partnership. In 2010, India imported 1.4 million tonnes of South African coal in
February, making it the largest purchaser of coal from the country. [1] Ties with further solidified
with South Africa's 2011 acceptance into the BRICS group.
India-Australia Trade
About the Australia-India Comprehensive Economic Cooperation Agreement negotiations recent
years have seen remarkable growth in the trading relationship between India and Australia,
fuelled by the many complementarities between the two economies. Two-way trade has grown in
value from $3.3 billion in 2000 to over $20 billion in 2011.India is the world's largest democracy
and is a market of 1.2 billion people. Its youthful population diversified economy and growth
trajectory present significant opportunity for Australian business, especially in the agriculture,
energy, manufacturing, mining and services sectors.
On 12 May 2011 Trade Minister Craig Emerson and Indian Minister for Commerce and Industry
Anand Sharma formally launched negotiations to conclude a Comprehensive Economic
Cooperation Agreement between Australia and India. Prime Minister Singh and Prime Minister
Gillard reaffirmed the importance of achieving a high quality agreement during Prime Minister
Gillard's 15-17 October visit to India. Australia will be seeking a comprehensive and truly
liberalising agreement, consistent with the governments trade policy. Similar to the elements
covered in Australias existing bilateral Free Trade Agreements, a Comprehensive Economic
Cooperation Agreement would include coverage of investment and trade in goods and services.
The Department is seeking public submissions on the Comprehensive Economic Cooperation
Agreement negotiations.
Key interests and benefits
A comprehensive agreement would assist in broadening the base of merchandise trade by
addressing tariff barriers and behind the border restrictions on trade in goods.
There is significant potential to expand trade in services between India and Australia. An FTA
could facilitate growth in services trade by reducing barriers faced by Australian service
suppliers and by increasing regulatory transparency.
An FTA could facilitate and encourage investment by reducing barriers, increasing transparency
and enhancing investment protections.
India-EU Trade
India has embarked on a process of economic reform and progressive integration with the global
economy that aims to put it on a path of rapid and sustained growth. However, India's trade
regime and regulatory environment remains comparatively restrictive. India still maintains
substantial tariff and non-tariff barriers that hinder trade with the EU. In addition to tariff barriers
to imports, India also imposes a number of non-tariff barriers in the form of quantitative
restrictions, import licensing, mandatory testing and certification for a large number of products,
as well as complicated and lengthy customs procedures.
With its combination of rapid growth, complementary trade baskets and relatively high market
protection, India is an obvious partner for a free trade agreement (FTA) for the EU.
The parameters for an ambitious FTA were set out in the report of the EU-India High Level
Trade Group in October 2006, which was tasked with assessing the viability of an FTA between
the EU and India. Other studies have reinforced the economic potential of an FTA between the
EU and India, notably a sustainability impact assessment was carried out by the EU.
Negotiations for a comprehensive FTA were started in June 2007 and are on-going. This would
be one of the most significant trade agreements, touching the lives of 1.7 billion people.
India enjoys trade preferences with the EU under the Generalised Scheme of Preferences. To
assist India in its efforts to better integrate into the world economy with a view to further
enhancing bilateral trade and investment ties the EU is providing trade related technical
assistance to India. This is part of the EU's assistance programmes with India
CHAPTER- v
5. Data Collection and Analysis
ANALYSIS OF DATA
TABLE 1
Sr.No.
TOTAL
Year(APRL IMPORT OF
-DEC)
INDIA
2013-14
197792530.9
2012-13
234546324.5
2011-12
168346695.6
2010-11
136373554.8
2009-10
137443555.5
2008-09
101231169.9
2007-08
84050631.33
2006-07
66040890.33
2005-06
50106454.03
10
2004-05
35910766.37
11
2003-04
29720587.4
Source: Department of commerce
GRAPH 1
Total Import Of India

250000000
200000000
150000000
Total Import Of India
100000000
50000000
0
TABLE 2
Year(APRL
Sr.No. -DEC)
IMPORT OF GOLD
1
2
3
4
5
6
7
8
9
10
11
2013-14
2012-13
2011-12
2010-11
2009-10
2008-09
2007-08
2006-07
2005-06
2004-05
2003-04
20652698.73
26990070.54
18472875.26
13588318.68
9532386.41
6735920.25
6543987.19
4795242.86
4734758.07
2994624
1860774.47
GRAPH 2
IMPORT OF GOLD
30000000
25000000
20000000
15000000
IMPORT OF GOLD
10000000
5000000
0
TABLE 3
NONMONETARY
POWDER OF
GOLD
OTHER
UNWROUGHT
FORMS
OTHER
SEMIMANUFA
CTURED
FORMS
MONETARY
GOLD
Sr.No.
Year
2013-14 448.08
187,13,186.37
19,39,064.21 0.07
2012-13
258,23,181.54
11,66,889.00
2011-12 0.99
174,43,332.07
10,29,542.19
2010-11 528.1
135,11,407.69
76,382.89
2009-10 6.28
78,88,115.59
16,44,264.53
2008-09 2,878.43
42,87,095.44
24,45,946.38
2007-08 37.33
38,05,078.66
27,38,871.19
2006-07 193.93
21,06,224.72
26,88,824.20
2005-06
31,57,620.54
15,77,137.54
10
2004-05 9.22
21,43,811.88
8,50,802.91
11
2003-04 9.04
16,97,353.28
1,63,412.16
GRAPH 3
30000000
25000000
20000000
NON-MONETARY POWDER
OF GOLD
OTHER
UNWROUGHT
FORMS
OTHER
SEMIMANUFA
CTURED
FORMS
MONETARY GOLD
15000000
10000000
5000000
0
TABLE 4
SR.NO
YEAR
TOTAL EXPORT OF
INDIA
2013-14
1178,47,507.35
2012-13
1465,95,939.96
2011-12
1142,92,192.18
2010-11
845,53,364.38
2009-10
840,75,505.87
2008-09
655,86,352.18
2007-08
571,77,928.52
2006-07
456,41,786.15
2005-06
375,33,952.62
10
2004-05
293,36,674.75
11
2003-04
255,13,727.66
GRAPH 4
160,000,000.00
140,000,000.00
120,000,000.00
100,000,000.00
TOTAL EXPORT OF INDIA
80,000,000.00
60,000,000.00
40,000,000.00
20,000,000.00
0.00
2013-14 2012-13 2011-12 2010-11
TABLE 5
SR.NO
YEAR
EXPORT OF GOLD
2013-14
18,67,484.85
2012-13
1,97,993.67
2011-12
42,755.43
2010-11
98,272.12
2009-10
12,893.29
2008-09
1,876.15
2007-08
454.5
2006-07
132.36
2005-06
35.77
10
2004-05
4.47
11
2003-04
2.57
GRAPH 5
EXPORT OF GOLD
2,000,000.00
1,800,000.00
1,600,000.00
1,400,000.00
1,200,000.00
1,000,000.00
800,000.00
600,000.00
400,000.00
200,000.00
0.00
EXPORT OF GOLD
TABLE 6
Sr.No
VALUES
IN RS (LACS)
2012-13(APRLDEC)
COUNTRY
VALUES
IN RS (LACS)
2012-13(APRLDEC)
SWITZERLAND 139,62,051.58
99,64,262.50
U ARAB EMTS
47,48,531.38
37,96,012.42
31,07,263.37
17,01,752.62
SOUTH
AFRICA
USA
6,71,850.12
15,26,385.82
AUSTRALIA
15,63,117.99
11,52,825.85
HONG KONG
2,78,591.54
4,15,027.34
CHINA P RP
6,43,006.82
4,10,504.18
SINGAPORE
1,30,748.36
3,07,261.06
GERMANY
2,94,435.48
2,37,826.72
10
JAPAN
1,44,348.85
1,44,515.32
11
UK
2,72,601.65
1,27,023.75
GRAPH 6
16,000,000.00
14,000,000.00
12,000,000.00
10,000,000.00
8,000,000.00
6,000,000.00
4,000,000.00
2,000,000.00
0.00
VALUES
IN RS (LACS)
2012-13(APRLDEC)
VALUES
IN RS (LACS)
2012-13(APRLDEC)
2
CHAPTERvi
6. Findings
FINDINGS
Another factor that is working in favour of the precious metal is the persistent weakness in the
Indian currency. Gold, which was quoting at $1,621 per ounce on August 1, 2011, was priced at
$1,571 per ounce on June 8, a loss of 3%. But, if you look at the rupee price of gold during this
period, the price has moved from Rs 23,150 to Rs 29,680 per 10 gram, a gain of 28%.
This gain is explained by the 26.19% fall in the rupee against the dollar in the same period. The
rupee fell from Rs 44.07 per USD to Rs 55.62. The surge in gold prices in rupee term is an
outcome of the rupee's depreciation than any increase in demand for the yellow metal. "If gold
prices remain firm, demand for gold from India should go down. At the same time, strong gold
prices should increase the supply of scrap gold, thereby influencing gold prices downwards,"
points out Devendra Nevgi, founder & partner, Delta Global Partners.
In FY2011-2012, India imported gold worth $56 billion. Since India's current account deficit for
the year was estimated at $74 billion, the government may introduce tax for gold imports to
contain the deficit. While this should drive prices up in the short term, in the medium term, the
demand for gold would come down.
Quantitative easing by developed nations typically increases risk appetite of global investors.
Carry trade where investors borrow at a low interest rate in one country and invest for a
higher rate of return in another picks up. Given the attractive equity valuations, the Indian
markets may see inflow of funds.
This will increase the demand for the rupee against the US dollar. A strong rupee may curb the
rupee prices when compared with the dollar prices. Quantitative easing, thus, will have a
balancing effect on gold prices while on the one hand it may push up the dollar prices of the
precious metal, on the other, it may reduce the rupee prices as rupee strengthens.
CHAPTERvii
7. Conclusion
CONCLUSION/ABSTRACT OF THE STUDY
The following research on the basis of set hypothesis shows the alternate hypothesis hold true ie
HI : export of gold is increasing , although import of gold is also increasing but the import in
2012-13 shows a fall in imports.
Thus, the focus on exports should be maintained, continuous efforts should made to increase
exports and more and more import substitution.
CHAPTERviii
8. References
REFRENCES
Dictionary Of International Trade: Handbook Of The Global Trade Community

Includes 21 Key Appendices
Edward G. Hinkelman, Sibylla Putzi
http://books.google.co.in/books?id=vylCkqTg7H0C&dq=international
+trade+on+gold&source=gbs_navlinks_s
International Trade & Financial Environment

M.K. Bhat
http://books.google.co.in/books?id=BVP3IDXXdy8C&dq=internation
al+trade+on+gold&source=gbs_navlinks_s
Developments of International Trade Theory

Takashi Negishi
http://books.google.co.in/books?id=3I_OhLmrToMC&dq=internationa
l+trade+on+gold&source=gbs_navlinks_s
Clive M. Schmitthoff's Select Essays on International Trade Law

Clive Maximilian Schmitthoff
http://books.google.co.in/books?
id=ieD5nT0ndHcC&dq=international
+trade+on+gold&source=gbs_navlinks_s
international trade statistics

Taylor & Francis, 1933
http://books.google.co.in/books?id=z5w9AAAAIAAJ&dq=internation
International Trade
Raj Agrawal
http://books.google.co.in/books?id=ATm_pyA4uVYC&dq=internation
Global Financial Management

Joseph Anbarasu
http://books.google.co.in/books?id=dA3A42ZqzMC&dq=international+trade+on+gold&source=gbs_navlinks_s
CHAPTER- ix
9. Bibliography
BIBLIOGRAPHY
http://en.wikipedia.org/wiki/Gold
http://www.mcxindia.com/sitepages/contractspecification.aspx?productcode=gold
http://www.thehindu.com/business/markets/gold-eases-on-sluggish-demandglobal-cues/article7101988.ecePhysical gold market awaits fresh import

guidelines
http://in.reuters.com/article/2015/04/10/india-gold-farmersidINKBN0N00JC20150410
http://articles.economictimes.indiatimes.com/2015-0116/news/58149621_1_import-curbs-10-grams-gold-prices
http://articles.economictimes.indiatimes.com/2015-0309/news/59931983_1_gold-loan-gold-hoard-gold-deposit
http://articles.economictimes.indiatimes.com/2015-0309/news/59931983_1_gold-loan-gold-hoard-gold-deposit

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Indias Import of Gold (included gold plated with platinum) unwrought or semimanufactured forms/in powdered form

MAJOR RESEARCH PROJECT

Under the supervision of:

Miss. Rupal Goyal

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MBA (FT) 4th SEM

CERTIFICATE OF ORIGINALITY BY THE STUDENT

MBA (F.T.) IV SEM

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

CERTIFICATE OF ORIGINALITY BY THE SUPERVISOR

Prof. Dr. Sanjivni Gangwani

Dr. Manmeet Singh

(Signature of Project Guide)

(Signature and Seal of Director)

(Signature of External Examiner)

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

Certificate by the Student

4. Indian and International

World top ten importers ,exporters and

4.3 Indian import policy and schemes

5. Data Collection and

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

INDIA AND GLOBAL GOLD ECONOMY

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

KEY FACTS ABOUT INDIAS GOLD INDUSTRIES

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

FACTORS INFLUENCING THE MARKET

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

EXTERNAL SECTOR OF INDIAS GOLD IMPORT

INDIAN AND INTERNATIONAL SCENARIO

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

BILETRAL TRADE AGREMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

5. Data Collection and Analysis

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

Source: Department of commerce

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

Total Import Of India

Source: Department of commerce

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

Source: Department of commerce

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

Source: Department of commerce

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

Source: Department of commerce

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

Source: Department of commerce

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

MEDI CAPS INSTITUTE OF TECHNO MANAGEMENT

Dictionary Of International Trade: Handbook Of The Global Trade Community