Amid ongoing conflicts in the Middle East, India has intensified its restrictions on gold imports as Prime Minister Narendra Modi strengthens efforts to support the rupee's exchange rate.
A government notification states that imports of gold bars exceeding 100 kilograms (approximately 220 pounds) will now require prior government authorization. Subsequent imports will only be permitted after at least 50% of previous shipments have been exported.
New Delhi is evaluating several urgent measures to bolster foreign exchange reserves and mitigate the economic impact of the Middle East conflicts.
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