How much gold does India import and why?

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.