Gold Import Dynamics in India: Growth Trends over Fifteen Years

Abstract

This paper examines the nature and growth of gold imports in India over 15 years from 2009–10 to 2023–24. Using descriptive statistics, compound annual growth rate (CAGR), index numbers, and regression analysis, the study highlights the variability, contribution, and long-term trend of gold imports. Results show that gold imports increased at an average annual rate of Rs. 93.918 billion, with a CAGR of 7.04 per cent. Despite fluctuations driven by cultural demand, policy restrictions, and external shocks such as COVID-19, gold remained a significant component of India’s import basket, contributing Rs. 35,533.90 billion to total imports over the study period..