Golden Surge: India's Record-breaking Gold Imports in October 2025

India's gold imports reached a record USD 14.72 billion in October 2025, driven by festival and wedding demand. Commerce data reveals a 21.44% rise in imports from April to October. Switzerland leads as the top source. The surge in imports widens India's trade deficit to USD 41.68 billion.

In an unprecedented trend, India's gold imports hit a record high of USD 14.72 billion in October, reflecting a surge driven by festival and wedding demand, as per the latest data from the commerce ministry.

The cumulative imports between April and October of the current fiscal year noted a significant 21.44% increase, totaling USD 41.23 billion compared to USD 34 billion in the previous year. This uptrend has notably expanded the nation's trade deficit to an all-time high of USD 41.68 billion for the month.

Commerce Secretary Rajesh Agrawal attributed this spike to seasonal demands, while data showed Switzerland as the primary source for these imports, accounting for 40%. Other significant contributors include the UAE and South Africa. The precious metal now represents more than 5% of the nation's total imports.

(With inputs from agencies.)