Government's measures to curb gold import counter-productive: Gitanjali Exports

Sanjeev Agarwal, CEO of Gitanjali Exports, speaks to NDTV Profit about a 2 per cent hike in gold imports imposed by the government. He feels the measures taken by the government to curb gold imports have been counter-productive and have instead created panic among users to buy more gold. Mr Agarwal says he feels that this will not reduce the country's current account deficit but will lead to an increase in smuggling. Jewellery companies are not expected to be hit too much as they will pass on the increased cost to their customers, he adds.