"relief to people" on its imports policy, he said.
The Indian government has been on the offensive to curb shipments to contain a record trade deficit, that has triggered record weakness in the rupee.
On August 14, the federal government also hiked import duty on gold for a third time in 2013 to 10 percent.
"As gold prices have surged we expect good quantities to come in at current levels. People might sell out at these levels, and cover up at a later stage, when the rates come down," Harmesh Arora said.