India Gold Imports Jump 29% to $69 Billion on Price Surge

India recorded a substantial increase in gold imports during the first eleven months of the 2025-26 fiscal year, with inbound shipments climbing 28.73% to reach a total value of USD 69 billion. The sharp rise in import costs is largely driven by sustained high prices for the precious metal in the global market.

This uptick in demand has placed additional pressure on India’s trade balance, contributing to a widening trade deficit. Data indicates that Switzerland continues to be the leading supplier of gold to the Indian market. Economic experts note that the elevated volume and value of these imports have direct implications for the nation's current account deficit, reflecting the ongoing impact of gold consumption on the country's broader external financial position.