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of <h1>India's Gold Imports and Trade Deficit: Impact of Customs Duty and 80:20 Scheme, 2011-2015.</h1> India's gold imports peaked at US$ 56.5 billion and US$ 53.8 billion in 2011-12 and 2012-13, contributing to a trade deficit of US$ 183.4 billion and US$ 190.3 billion, respectively. To address this, the government increased customs duty on gold and implemented the 80:20 scheme, reducing the trade deficit to US$ 135.8 billion in 2013-14. The trade deficit slightly rose to US$ 118.4 billion during April-January 2014-15. Falling crude oil prices also helped lower the trade deficit. Gold smuggling cases increased, with significant seizures reported from 2011 to 2015.
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