MY: India increases base import price of gold, silver - govt
(Corrects to show base import price is applicable only to travellers carrying small quantities and not all imports)
NEW DELHI (Reuters) - India, the world's biggest bullion consumer, has raised the base import price for gold and silver for travellers who import small quantities of the metals, a government statement said on Wednesday.
The base import price for gold has been raised by 5.7 percent to $556 per 10 grams and that for silver by nearly 12 percent to $1,067 per kg.
Last month, India hiked its gold import duty by 90 percent and doubled the tax on silver, sending futures prices higher and hitting shares of jewellers.
(Reporting by Ratnajyoti Dutta; editing by Krittivas Mukherjee and Keiron Henderson)
