New Delhi, April 17 (KNN) India may have achieved success in significantly reducing its current account deficit by putting harsh restrictions on gold imports, according to the Commerce Ministry, these restrictions are not sustainable.
 
“Long term restrictions on trade are not sustainable. There has to be action on the part of the government to see that gold import policy is rationalized,” Commerce Secretary Rajeev Kher told reporters yesterday at a CII event.
 
While, the Finance Ministry has been consistent in retaining restrictions on gold imports, the Commerce Ministry has been supporting the jewellery exporters, who have faced a lot of difficulties in implementation of a strict trade regime.
 
Besides, the local jewellery makers, mostly in the MSME sector have seen decline in their business in the last one year. (KNN Bureau)