India’s gold imports hit a record $71.98 billion in 2025-26 despite lower import volumes, driven mainly by soaring global prices and safe-haven demand amid West Asia tensions. Rising imports widened India’s trade deficit, prompting Prime Minister Narendra Modi to urge austerity and postpone gold purchases
Piyush Goyal said the India-UAE Comprehensive Economic Partnership Agreement has boosted bilateral trade beyond $100 billion, driving growth across sectors, enhancing services trade, and creating opportunities for Indian businesses, MSMEs and farmers
