Record Gold Imports in 2025-26: A Golden Surge Impacting India's Trade Balance

India's gold imports soared to an unprecedented USD 71.98 billion in 2025-26, driven by soaring prices, while volume dipped 4.76%. Silver imports skyrocketed by 150% in value. This surge increased the trade deficit to USD 333.2 billion, impacting the current account deficit. Import curbs aim to control the flow.

In a noteworthy economic development, India's gold imports escalated to an all-time high of USD 71.98 billion in the fiscal year 2025-26, according to data from the Commerce Ministry.

The surge is primarily attributed to rising gold prices, even as the actual volume of imports declined by 4.76% to 721.03 tonnes compared to the previous fiscal year.

Silver imports also witnessed a significant surge, with values increasing by 150%, and volumes rising by 42%. This sharp increase in precious metal imports has pushed India's trade deficit to USD 333.2 billion, prompting the government to impose import curbs on gold, silver, and platinum articles.

(With inputs from agencies.)