Gold Imports Rise
Gold imports in focus as PM Modi calls for austerity amid West Asia crisis
As Prime Minister Narendra Modi has appealed for austerity measures in view of the tensions in West Asia, India's rising gold imports are drawing attention. Emphasising that the Centre is trying to shield people from the adverse impact of the conflict in West Asia, Modi on Sunday called for judicious use of fuel, postponement of gold purchases and foreign travel, among other measures, to strengthen the economy. Here are a few questions and answers to understand gold imports in India. IMPORT DATA: India's gold imports rose over 24 per cent to an all time high of USD 71.98 billion in 2025-26. It was USD 58 billion in 2024-25, USD 45.54 billion in 2023-24, USD 35 billion in 2022-23, USD 46.14 billion in 2021-22, USD 34.62 billion in 2020-21, and USD 28.2 billion in 2019-20. In volume terms, however, it dipped 4.76 per cent to 721.03 tonnes in 2025-26 from 757.09 tonnes in 2024-25. It was 795.2 tonnes in 2023-24 and 678.3 tonnes in 2022-23. India is the world's second-biggest gold ..
 "Gold imports in focus as PM Modi calls for austerity amid West Asia crisis")
Gold imports up 6.4% to $13 billion in April-July due to 'healthy demand'
India's gold imports, which have a bearing on the country's Current Account Deficit (CAD), rose 6.4 per cent to USD 12.9 billion during April-July this fiscal due to healthy demand, according to government data. The imports stood at USD 12 billion during the same period a year ago. In July 2022, however, imports of the precious metal fell sharply by 43.6 per cent to USD 2.4 billion, as per the latest data released by the commerce ministry. Increase in gold and oil imports during the first four months of this fiscal contributed to a record trade deficit of USD 30 billion, against USD 10.63 billion in April-July 2021. India is the world's second-biggest gold consumer after China. The imports mainly take care of the demand by the jewellery industry. The gems and jewellery exports during the first four months of the current fiscal grew by about 7 per cent to USD 13.5 billion. A wider trade gap during 2021-22 expanded the country's current account deficit at 1.2 per cent of GDP agains
 "Gold imports up 6.4% to $13 billion in April-July due to 'healthy demand'")
Gold demand jumps as lockdowns ease, imports rebound by 25% in July
Overseas purchases rose to 25.5 tonnes in July from 20.4 tonnes a year earlier and were almost double the amount shipped in the previous month
 "Gold demand jumps as lockdowns ease, imports rebound by 25% in July")
Domestic demand boosted India's gold imports by 53% in 2017 to 846 tonnes
The world's second largest gold consumer had imported 550 tonnes of the metal in 2016
 "Domestic demand boosted India's gold imports by 53% in 2017 to 846 tonnes")
India gold imports surge 67 percent in 2017 on restocking, retail demand
The move created a cash crunch and dampened gold purchases in the last quarter of 2016
 "India gold imports surge 67 percent in 2017 on restocking, retail demand")
GJEPC seeks duty cut, says Indian gold imports to cross 700 tonnes in FY18
Dubai acts as a major transit point and accounts for over 50% of the $7.5 billion gold jewellery exports from India
 "GJEPC seeks duty cut, says Indian gold imports to cross 700 tonnes in FY18")
Gold imports double in September quarter despite GST, PMLA notification
GFMS Survey also sees strong demand in December quarter, projects high prices next year
 "Gold imports double in September quarter despite GST, PMLA notification")
Gold imports jump three-fold to $15 bn as festive season nears
The imports are expected to increase on account of the forthcoming festival season, which will start from the end of this month
 "Gold imports jump three-fold to $15 bn as festive season nears")