Gold imports on RBI radar, but no alarm yet
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New Delhi: Finance Minister Nirmala Sitharaman on Monday said the government and the Reserve Bank of India are keeping a close watch on gold imports amid rising prices, but stressed that the situation is not yet “alarming”.
Sitharaman attributed the surge in global gold prices to heavy purchases by central banks worldwide. She noted that India remains a net importer of gold due to strong household demand. During April–December last year, India’s gold imports rose by about USD 1 billion year-on-year to USD 50 billion. However, January saw a sudden spike in both the value and volume of imports. RBI Governor Sanjay Malhotra said the central bank is analysing January’s data. He explained that for most of April–December 2025, higher prices were largely offset by lower import volumes.
