People of India are buying gold as it becomes more expensive, expenditure has doubled in 3 years.

The trend of investing in gold jewellery, gold articles or gold is huge in India. Be it a wedding, any auspicious occasion or want to make money from money, people of India spend a lot of money on buying gold. Its effect is clearly visible in the price of gold, demand for gold and import of gold. Now the latest figures show that despite the continuous increase in prices, the import of gold in India has increased tremendously. There was a 24 percent increase in gold imports in a single year. In the year 2025-26, the people of India have imported gold worth 71.98 billion dollars i.e. about Rs 6.69 lakh crore in one year.

The country’s Ministry of Commerce has said that in the year 2025-26, there has been an increase of 24 percent in the import of gold and the import of gold has reached the highest level till now at $ 71.98 billion. In the financial year 2024-25, gold import was $ 58 billion, while in 2023-24 it was $ 45.54 billion and in 2022-23 it was $ 35 billion. This means that in just 3 years the import of gold has almost doubled. Interestingly, the price of gold has more than doubled in the same three years.

Also read: Unemployment has increased in India, now the truth has come out in the government data.

quantity decreased, price increased

In terms of quantity, gold import declined by 4.76 percent to 721.03 tonnes in the financial year 2025-26, which was 757.09 tonnes in the financial year 2024-25. Similarly, silver imports increased by almost 150 percent to $12 billion in the last financial year. In terms of quantity, it increased by 42 percent to 7,334.96 tonnes. Due to increase in imports of these precious metals, the country’s trade deficit increased to $ 333.2 billion in the financial year 2025-26. According to the ministry data, due to the rise in gold prices, import value has increased while the quantity has declined.

The ministry said that the import price of gold increased to $ 99,825.38 per kg in the financial year 2025-26, which was $ 76,617.48 per kg in the financial year 2024-25. During the same period, the import quantity decreased from 757.09 tonnes to 721.03 tonnes. According to the ministry, Switzerland remained the largest source of gold imports, accounting for about 40 percent. It is followed by the United Arab Emirates (more than 16 percent) and South Africa (about 10 percent). Gold accounts for more than five percent of the country’s total imports.

Also read: How Kitkat was started at the request of a labourer? The story is very interesting

India is the biggest importer

Let us tell you that India is the second largest consumer of gold in the world after China and it is mainly used in making jewellery. According to the data, imports from Switzerland increased by 11.36 percent to $24.27 billion. According to the Reserve Bank of India (RBI), the current account deficit (CAD) increased to $ 13.2 billion (1.3 percent of GDP) in the December quarter compared to $ 11.3 billion in the same period last year 2024-25.

However, the current account deficit declined to $30.1 billion (1 percent of GDP) in April-December 2025, compared to $36.6 billion (1.3 percent of GDP) in the same period a year ago.