New Delhi: india saw a huge jump in silver import value between april and december 2025, while gold import growth remained relatively modest, according to government trade data.
📈 Silver Import Growth
- The value of silver imports during April–December 2025 jumped by 128.95% compared with the same period in 2024.
- Silver import value rose to about USD 7.77 billion from around USD 3.39 billion in the earlier year.
- This significant increase was driven by both a rise in volumes imported (up more than 50%) and a sharp increase in global prices.
This surge reflects both higher demand for silver (used in jewellery, industrial applications and investment) and higher international metal prices.
📊 Gold Import Trend
- In contrast, gold imports for the same period rose only 1.83% in value.
- Gold import volumes actually declined by over 18%, but the value still increased slightly due to higher per‑unit prices.
- The average price of imported gold increased significantly compared with the previous year.
This suggests that, while less gold was imported in terms of weight, the higher prices kept overall spending on gold imports marginally higher.
📌 Why This Matters
- Trade Impact: Silver’s strong growth contributed to a widening import bill, especially amid rising precious metal prices globally.
- Precious Metals Dynamics: Gold’s bulk import numbers declined even as prices increased, showing a price‑led rather than volume‑led growth.
- Policy & Industry: india remains one of the world’s major consumers and importers of silver and gold, with shifts in import behaviour often reflecting investment patterns, jewellery demand, and industrial needs.
Summary of Key Changes (Apr–Dec 2025)
Precious Metal
Import Value Change*
Volume Trend
Key Driver
Silver
+128.95%
Increased
Higher prices + more volume
Gold
+1.83%
Decreased
Higher prices (volumes down)
*Compared with April–December 2024.
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