Gold imports jumped by 192.13%
Gold Import: Despite the record rise in the price of gold in the bullion markets of India, investors still have faith in this precious yellow metal. As a result, billions of dollars worth of gold was imported into India from abroad in the month of March. According to the information given by the All India Bullion Association, on Thursday, the price of gold in the bullion market of Delhi rose by Rs 70 to a new record high of Rs 98,170 per 10 grams.
Strong jump of 192.13% in gold imports
India’s gold imports in March 2025 reached $ 4.47 billion with a tremendous increase of 192.13%. Due to the continuous rise in gold prices and global uncertainties, investors’ interest has increased towards this precious metal. According to the data of the Ministry of Commerce, this figure was $ 1.53 billion in January 2024. Gold becomes a safe investment option
Total gold imports in FY 2024-25 increased by 27.27% to $58 billion, as against $45.54 billion in the previous year. This shows that gold remains a safe option for investment. Demand from banks, weakness in the dollar and global trade tensions are the main reasons for this.
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Gold price reaches record level
The price of gold in the Delhi bullion market rose by Rs 70 to a record level of Rs 98,170 per 10 grams. On the other hand, the price of silver fell by Rs 1,400 to Rs 98,000 per kg. Silver imports fell 85.4% to $119.3 million in March and 11.24% to $4.82 billion for the full year.
Most gold came from Switzerland
Switzerland is the largest gold supplier to India (about 40% share). It is followed by the United Arab Emirates (16%) and South Africa (10%). Gold accounts for 8% of total imports. However, in terms of quantity, imports declined to 757.15 tonnes in 2024-25 from 795.32 tonnes in 2023-24.
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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 of the jewelry industry. Gems and jewelry exports grew 10.62% to nearly three billion dollars in March. However, it declined to $ 29.82 billion for the full year. India’s trade deficit reduced
This surge in gold imports pushed India’s trade deficit to $21.54 billion in March. It stood at $282.82 billion in the entire financial year 2023-24, the highest ever. The current account deficit (CAD) also widened to $11.5 billion (1.1% of GDP) in the October-December 2024 quarter. It stood at $37 billion (1.3% of GDP) in April-December.
