India's gold imports from Switzerland crosses Rs1.2 lakh cr in 2014

Switzerland's gold exports to India have crossed 1.2 lakh crore rupees in 2014. According to Swiss government, gold worth 17.1 billion Swiss Francs or an over 1.2 lakh crore rupees have been imported during the 11-month period, from January to November end in 2014. More than 457 kilograms of gold was exported from Switzerland to India during January-November 2014 period. According to latest figures, gold imports surged over six-fold to over 35,000 crore rupees in November. The spike was primarily attributed to increased demand during marriage and festival season as well as easing off import curbs in November.