Gold imports in 192.13% bounce

In March 2025, India's gold imports reached $ 4.47 billion with a tremendous increase of 192.13%. Due to the steady rise in gold prices and global uncertainties, the trend of investors has increased towards this precious metal. According to Commerce Ministry data, the figure was $ 1.53 billion in January 2024.

Gold becomes an option for safe investment

The total gold imports in FY 2024-25 increased by 27.27% to $ 58 billion, compared to $ 45.54 billion last year. This shows that gold remains a safe option for investment. Banks' demand, dollar weakness and global trade stress are the main reasons.

Gold price reached record level

In the Delhi bullion market, the price of gold rose by Rs 70 to a record level of Rs 98,170 per 10 grams. On the other hand, the price of silver declined by Rs 1,400 to Rs 98,000 per kg. Silver imports declined by 85.4% to $ 11.93 million in March and 11.24% in the whole year to $ 4.82 billion.

Gold came the most from Switzerland

India's largest gold supplier is Switzerland (about 40% stake). This is followed by the United Arab Emirates (16%) and South Africa (10%). Gold holds 8% in total imports. However, imports declined to 757.15 tonnes in 2024-25 in terms of quantity, while in 2023-24 it was 795.32 tonnes.

India is the second largest consumer of gold

India is the second largest gold consumer in the world after China. Most of the imports meet the demand for the jewelery industry. Gems and jewelery exports in March increased by 10.62% to about three billion dollars. However, it decreased to $ 29.82 billion throughout the year.

India's trade deficit reduced

India's trade deficit reached $ 21.54 billion in March due to this surge in gold imports. It stood at $ 282.82 billion in the entire financial year 2023-24, the highest level so far. The current account deficit (CAD) also increased to $ 11.5 billion (1.1%of GDP) in the October-December 2024 quarter. It was $ 37 billion (1.3%of GDP) in April-December.