1 min read.Updated: 16 Sep 2022, 12:23 PM ISTLivemint
India is the second biggest consumer of gold and meets most of its domestic requirement from imports
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Indian government has reduced the base import prices of gold and some edible oil. The government revises base import prices of edible oils, gold and silver every fortnight, and the prices are used to calculate the amount of tax an importer needs to pay. India is the world's biggest edible oils importer while meets most of its domestic gold requirement through imports.
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