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It is not hidden from anyone in the world how much Indians love gold. There is so much gold in the houses of India that the big economies of the world will become dwarf in front of it. However, despite the rise in gold and silver prices, India has seen a tremendous jump in the imports of gold and silver in the first 11 months of the financial year 2026. Where an increase of about 29 percent has been seen in the import of gold. On the other hand, a jump of 143 percent has been seen in the import of silver. The special thing is that in these 11 months, the prices of gold and silver had reached record levels from India to the international market. Let us also tell you what kind of figures have been presented by the government regarding the import of gold and silver.

29 percent increase in gold imports

According to Commerce Ministry data, due to high prices of precious metals, the country's gold import has increased by 28.73 percent to $ 69 billion in April-February 2025-26. In the same period of financial year 2024-25, gold import was $ 53.52 billion. According to the data, this surge in gold imports has increased the country's trade deficit (the difference between imports and exports) to $310.60 billion. In the same period of the previous financial year, it was 261.80 billion dollars. The price of gold in the national capital currently remains around Rs 1,51,500 per 10 grams (including all taxes).

Where is India sourcing the most gold from?

Switzerland has the highest share in India's gold imports with about 40 percent. It is followed by United Arab Emirates (more than 16 percent) and South Africa (about 10 percent). The share of gold in the country's total imports is more than five percent. Total imports from Switzerland during April-February 2025-26 increased by 11.57 percent to $23.5 billion. In February, gold import from this country increased by 719.30 percent on annual basis to reach 2.71 billion dollars. India is the second largest gold consumer in the world after China. This import is mainly done to meet the demand of the jewelery industry. The increasing import of gold has a direct impact on India's current account deficit (CAD).

Import price of silver also increased

During this period of 11 months, silver import increased by 142.87 percent to $ 11.43 billion. Silver also has industrial uses. It is used in sectors like electronics, auto and pharma. To discourage imports, the government last week banned the import of all items made of gold, silver and platinum.

cad status

According to RBI data, CAD increased to $13.2 billion (1.3 percent of GDP) in the December quarter, compared to $11.3 billion (1.1 percent of GDP) in the same period last year, mainly due to a widening in trade deficit. However, the current account deficit (CAD) 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. CAD occurs when the value of goods and services and other payments imported, exported and exported by a country exceeds the value of money received in a given period.