"The pressure is mounting on the government of India to ease its draconian import restrictions that have been placed on gold. For some time, it appeared that the government was going to ease these restrictions and unleash the pent up demand that has been a result of these restrictions.
Unfortunately, that does not appear to be in the immediate term. Once again the Indian government raised the tariffs on the importation of gold and silver to USD 431 per 10 grams and USD 646 per kg, respectively.
In the end, this will do nothing to solve their current account deficit."