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India considering curbing gold imports-finance minister

gold-400.NEW DELHI: India is considering raising the cost of gold imports, Finance Minister P. Chidambaram said on Wednesday, as part of efforts to curb the country's current account deficit, which widened to a record high of 5.4 percent of GDP in the September quarter.

 

A sharp rise in gold imports, a hefty oil bill and falling exports due to the global slowdown have kept India's current account deficit at persistently high levels.

Copyright Reuters, 2013