Gold imports up 61% to 155 tonnes in Apr-May

India's gold imports shot up by about 61 <g data-gr-id="12">per cent</g> to 155 tonnes in the first two months of the current fiscal mainly due to weak prices globally and the easing of restrictions by the Reserve Bank. In April-May of the last fiscal, gold imports had aggregated about 96 tonnes, an official said. In the international market, gold has been trading weak over the past few months. On Friday, it closed at $1,095.10 in New York market. India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. Large imports of gold impact the country's current account deficit, which occurs when <g data-gr-id="10">value</g> of import of goods and services is more than its exports.