NEW DELHI, April 7. /TASS/. India boosted gold imports by 28.7% year on year during the first ten months of the financial year of 2025-2026 (ended on March 31) to $69 bln, the Ministry of Commerce and Industry said.

The investors’ demand facilitated the rise in precious metal purchases. It also led to growing trade deficit in India from $261.8 bln a year earlier to $310.6 bln.

India is considered to be the top gold consumer worldwide after China. Switzerland is the leading gold exporters to the country, with its share of about 40% of total Indian gold imports. It is followed by the UAE (more than 16% and South Africa (about 10%).

Indian gold purchases in the global market account for 5% of total country imports.