Gold import ban reins in India's CAD, Pakistan, Bangladesh pay the price

Feb 24 2014, 14:20 IST
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Success at bringing down the CAD has apparently come at a very high cost as far as Indiaís neighbours are concerned. Success at bringing down the CAD has apparently come at a very high cost as far as Indiaís neighbours are concerned.
SummaryIndia gold imports squeeze adds to neighbours' pain, Pakistan, Bangladesh eye Delhi for solution.

gold smuggling, Pakistan is also battling with a widening CAD, which ballooned to over $2 billion in the first seven months of FY14 compared to $441 million in the corresponding period of 2012-13, according to State Bank of Pakistan.

SPILLOVER EFFECT

* Customs officials from Pakistan, Bangladesh and Sri Lanka have detected increased gold smuggling activity after India imposed curbs on the yellow metal

* Smugglers have been routing gold meant for India through these countries

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