India in October 2025 imported gold worth $14.72 billion, according to the materials of the Ministry of Trade and Industry of the country. This is 3 times more than in October last year, 1.5 times more than in September this year, and claims a historical record (last year it was reported a slightly higher figure in November, but it was later adjusted).
“The growth in gold imports in October was phenomenal despite very high global prices,” said India’s Deputy Commerce and Industry Minister Rajesh Agrawal, reports The Hindu. – In silver, the growth was also phenomenal.” Silver imports rose 6.3 times to $2.72bn.
“The continuous rise in gold prices ahead of the festive season may have led to speculative demand that may not persist in the future, possibly leading to some decline in imports in the coming months,” warns Aditi Nayar of Indian rating agency ICRA.
In just the first 10 months of 2025, India imported $50.74bn worth of gold, up 17% from the level in the same period last year (October results reversed the trend).
India is one of the largest consumers of gold in the world, producing almost none itself.
Earlier, the Experts Club think tank presented an analysis of the world’s leading gold-producing countries in its video on its Youtube channel – https://youtube.com/shorts/DWbzJ1e2tJc?si=YuRnDiu7jtfUPBR9.