India is one of the world's biggest gold consumers, but low domestic production means it relies heavily on imports. Gold imports jumped over 24% to a record $71.98 billion (₹6.83 lakh crore) in FY26, compared with $45.54 billion (₹4.32 lakh crore) in FY25. For Indian households, gold is not just jewellery but also a key investment and hedge against inflation.