Silver imports during the last fiscal, however, dipped by 71 per cent to about USD 791 million.
The May contract of silver on the MCX was trading at Rs 66,170 per kg, lower by Rs 1,357 or 2.01 per cent from its previous close.
B Shankar, Inspector working at the main police control room won gold and silver medals in two different categories in the Telangana State Open Shooting competition
According to the report, the erstwhile duty structure gave incentives for gold smuggling into India.
The precious yellow metal had closed at Rs 49,124 per 10 gm in the previous session.
The February contract of gold on the MCX is currently trading at Rs 50,318 per 10 gram, higher by Rs 245 or 0.49 per cent from its previous close.
. The rise in imports can be attributed to the anticipated demand for the yellow metal along with gold jewellery during the occasions of Dhanteras and Diwali
In the global market, gold was trading with gains at USD 1,880 per ounce and silver was flat at USD 24.32 per ounce.
Silver prices also jumped Rs 694 to Rs 65,699 per kilogram from Rs 65,005 per kilogram in the previous trade.