NEW DELHI: Finance secretary Arvind Mayaram said on Thursday there was no need to review a rule imposed last year mandating exports of a fifth of all gold imports into the country. Mayaram said the rule was "working fine".
Struggling with a high trade deficit, India raised its gold import duty to a record 10 percent and made it compulsory to export a fifth of all bullion imports. Gold is India's second-biggest expense on the import bill after oil.
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