India imported around 162 tonnes of gold in May, a finance ministry spokesman said on Monday, much more than expected and making further measures from the government to curb demand in the world's biggest bullion buyer almost certain.
The figure is sharply higher than April, even though it is below an estimate of 262 tonnes earlier in the day from Finance Minister P. Chidambaram which had stunned experts, including the World Gold Council and the Bombay Bullion Association.
"The correct figure for May gold import is around 162 tonnes, and not 262 tonnes," D.S. Malik, spokesman of the ministry of finance, told Reuters.
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