Gold News: PM Narendra Modi, in his address yesterday, has appealed to the people not to buy gold for a year. Due to the tense situation prevailing in the Middle East, the government believes that this will keep the foreign exchange reserves secure. But do you know that India is one of the largest gold purchasing countries in the world? Let us tell you how much gold is purchased every year in India.

How much gold is imported into India?
According to the reports of cnbctv18, 700 to 800 tonnes of gold is consumed every year in India. There is little domestic production in the country, hence 90 percent of gold is imported. But this consumption has reduced slightly in the year 2026. There was a demand of about 100 tonnes in January, which remained only 65 to 66 tonnes by February. Whereas in March it has increased from 20 to 22 tonnes. In April, gold import remained only 15 tonnes. This is the first time in many years that there has been such a low monthly import of gold.

How many lakhs of crores of gold does India buy?
India buys gold worth seven lakh crores every year. India has to pay this price in dollars. The more gold is purchased, the more the demand for dollars increases. The more the demand increases, the more the price of the dollar increases. That is, the rupee becomes weak and the more the rupee falls, the more expensive it becomes to buy oil and gold. Today the dollar price has closed above Rs 95.

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When is there high demand
Actually, the demand for gold in the market is during the wedding season. During this time, people buy jewelery in large quantities and demand gold. Apart from this, there is more purchase of gold during festival season also. So people also buy gold for investment. In such a situation, the demand for gold is often high in India. But this time the demand is low and industry experts believe that it is due to interruption in supply, delay in bank permission, uncertainty related to custom clearance and tax.

Also see old records
Let us tell you that according to the World Gold Council (WGC), the total gold demand in India in the year 2024 was about 802.8 tonnes. Whereas in 2025, due to record high prices, it declined and the total demand came down to about 710.9 tonnes.

Also read: Cheapest Gold Price: The cheapest gold is available in these states of India, is your state’s name in this list?