Gold Imports Skyrocket to 69 Billion US Dollars with 29 Percent Increase in Apr-Feb 2025-26

Gold imports have reached 69 billion US dollars with a 29% surge in the April to February months of the financial year 2025-26, as per the reports. Due to high gold prices, the Commerce Ministry data shows that the nation’s gold imports increased by 28.73% to 69 billion USD, as reported by PTI.

From April to February 2024-25, gold imports totaled 53.52 billion USD. According to the data, the increase in gold imports caused India’s trade deficit, that is, the difference between imports and exports, to increase from 261.80 billion USD during April-February 2024-25 to 310.60 billion USD during the 11 months of the previous fiscal year, PTI reports further.

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Talking about Switzerland, India’s total imports from Switzerland were up 11.57% to 23.5 billion USD during April-February 2025-26. In February, gold imports from that country surged 719.30% year-on-year to 2.71 billion USD.

Switzerland is the largest source of gold imports, with about 40% share, followed by the UAE at over 16% and South Africa at about 10%. Gold constitutes a significant portion of India’s total imports, exceeding 5%. India is the world’s second largest gold consumer after China. The imports mainly take care of the demand from the jewellery industry.

India’s trade deficit has been brought to attention by the reports. According to RBI data, India’s current account deficit (CAD) increased to 13.2 billion, or 1.3% of GDP, in the December quarter, up from 11.3 billion USD (1.1% of GDP) in the same period the year prior, mostly as a result of a widening trade deficit.

But between April and December 2025, the current account deficit moderated from 36.6 billion USD (1.3% of GDP) during the same period the previous year to 30.1 billion USD (1% of GDP). When the value of a nation’s imports of products and services, as well as other payments, exceeds the value of its exports of goods and services and other receipts over a given time, a CAD occurs.

On this note, it is also important to comprehend that the government last week restricted imports of all forms of gold, silver and platinum products in an effort to reduce imports.