National News
India’s Gold Imports Expected To Drop By 15% This September
This Comes After Prime Minister Narendra Modi Asked Citizens To Cut Back On Buying Gold To Reduce The Current Account Deficit.
India’s gold imports are expected to drop by 15% this September. This comes after Prime Minister Narendra Modi asked citizens to cut back on buying gold to reduce the current account deficit.
Lower Country Expenses: Gold is India’s second-biggest import after oil. Buying less gold helps lower the nation’s import bills and protects its current account deficit.
Drop in Import Volume: Gold imports were around 45 tonnes in August. Trade experts predict this number will fall by 15% in September, right before the busy festival shopping season.
Trading Old for New: Instead of buying brand-new gold with cash, more shoppers are trading in their old jewelry for new designs. This keeps the market moving using gold that is already inside the country.Old Gold exchange, which currently accounts for about 45-50% of jewellers’ business, could rise to 60-70% during the festive season.
Global Price volatility: International gold prices remain unstable due to global economic challenges and decisions by central banks worldwide.
National News
GTRI Flags Gold Import Surge Driven By UAE Tariff Concessions
GTRI Said The Figures Showed That The UAE Was Not Merely Another Supplier But Had Emerged As A Principal Driver Of India’s Rising Gold-Import Bill.
A sharp spike in India’s gold bar imports during the first quarter of the 2026-27 financial year has sparked serious economic concerns.
According to a warning report issued by the Global Trade Research Initiative (GTRI), the surging influx—largely driven by massive shipments from the United Arab Emirates (UAE)—threatens India’s current account deficit and directly undermines Prime Minister Narendra Modi’s recent appeal urging citizens to curb unnecessary gold purchases.
GTRI Founder Ajay Srivastava said the figures showed that the UAE was not merely another supplier but had emerged as a principal driver of India’s rising gold-import bill.
India’s total gold imports surged by 47.1% to reach $11.01 billion in the April–June 2026 quarter, up from $7.49 billion recorded during the same period in 2025.
The primary catalyst behind this dramatic increase is the UAE, which saw its gold exports to India more than double over the three-month period.
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