Gold Import Trends in India and Their Impact: Custom duty on gold 2026

Introduction 

India has had a robust market share in the world gold market due to cultural demand, investment interest and huge jewellery manufacturing industry. Being one of the largest gold importers in the world, even minor policy or price adjustments can greatly affect the trade volumes and the behaviour of the market. Global prices, regulatory changes, and trade policy changes have transformed the gold importation environment in India in the last few years. 

Gold Import data show that India is still heavily dependent on foreign suppliers to fulfil its domestic market, and so the trends of imports are an important predictor of interest to traders, jewellers and investors alike. With the change in 2026, it is necessary to understand how the policy developments, particularly those concerning customs and duties, will affect the gold imports to enable the businesses manage their costs, strategize their sourcing and remain competitive in the market. 

Overview of Gold Import Trends in India 

The trends in India in terms of importation of gold have noticeable changes in recent years based on the dynamics of global prices, demand cycles within the country, and policy intervention. Conventionally, the demand for gold in India is highest during festive and wedding seasons, which drive high levels of imports in certain quarters. The recent years have however been more volatile, with imports fluctuating because of the price sensitivity and regulatory action. 

Among the major factors that have contributed to these trends is the import duty which has a direct impact on the landed cost of gold. An increase in duties usually causes a short-term decline in official imports, whereas decreases usually restore demand and market sentiments. When duties are high, alternative sources of supply have likewise been promoted during certain periods, and the government should strike a balance between revenue goals and transparency in trade. 

Custom Duty on Gold in India: 2026 Update 

The Custom duty on gold in India continues to play a decisive role in shaping import behaviour and pricing dynamics in 2026. The government applies the gold importation duties as a policy instrument to control the trade deficit, to control the outflows of foreign exchange and to control excessive importation at times of high demand. 

The recent changes in policy have been working on the aspect of the balanced structure of duties that will not promote unnecessary imports and at the same time will not harm the domestic jewellery and bullion industries. Any change in the gold duty will directly influence the landed cost of gold which will in turn, affect the wholesale price, retail rates of jewellery and the entire demand in the market. 

To importers and traders, it is important to keep up with changes to duties. Even such small changes may affect sourcing, inventory planning and the profit margins.  

Top Countries Exporting Gold to India 

Switzerland 

The prime gold supplier in India is Switzerland, which has modernised refining facilities. Most of the gold that is exported out of Switzerland is high-purity refined bullion that are obtained worldwide and refined to international standards. 

United Arab Emirates 

The UAE has been an important trading partner of India about gold because of its proximity and good trade connections. Dubai is a significant re-export centre and therefore, the UAE is a preferred sourcing destination. 

South Africa 

South Africa exports mined and semi-refined gold to India. It is a long-time mining sector that contributes to gold imports in India. 

Australia 

Australia is a leading exporter of gold to India that is supported by consistent mining production and quality assurance. Australian gold is preferred by Indian refiners due to its purity and consistent supply. 

United States 

The United States sells refined gold to India, particularly when the world demand changes. It is a reliable supplier due to solid compliance and quality assurance. 

Canada 

Canada exports mined gold to India in a way that is environmentally friendly and responsible. Organised jewellery manufacturers are more interested in its gold. 

Russia 

Russia is a significant gold exporter, as it has a high production capacity. Depending on the international and geopolitical conditions, trade levels can fluctuate. 

Ghana 

Ghana is a growing gold producer to India especially on mined gold. Due to the developing trade relationship, it is becoming more significant in the sourcing mix of India. 

How Cybex Helps to Access Gold Import Export Data 

Access to accurate and timely trade data is essential for understanding India’s gold import dynamics. Cybex provides comprehensive tools that help businesses track gold trade movements, supplier trends, and market shifts with clarity and confidence. 

Through Cybex, importers and market analysts can access structured gold import–export data, including country-wise trade volumes, import values, and historical trends. This enables users to evaluate how policy changes, pricing fluctuations, and sourcing strategies impact gold imports over time. 

Cybex can help jewellery manufacturers, bullion traders and investors to make decision based on the complex trade data, take risk out of sourcing and remain competitive in the changing gold business environment of India. 

Conclusion 

The domestic jewellery, investment and industrial consumption of gold in India remain largely dependent on the imports of the metal. With the shifting trends of imports in 2026, the development of the duty structure and the global sourcing trends is likely to have a direct effect on the pricing, trade volumes, and business strategies throughout the gold value chain. 

As an importer and a trader, such application as an import duty calculator is necessary to be able to estimate the landed costs and organize the purchases correctly. Relying on verifiable trade intelligence using tools such as Cybex enables companies to be up to date, change swiftly with policy alterations, and make informed judgments in the evolving gold import market in India. 

Visit Cybex.in today to access accurate gold import–export data and make smarter, data-driven trade decisions. 

FAQs  

1. Why does India import large quantities of gold every year?  India has low production of domestic gold and demand is high because of jewellery production, investment and cultural usage. Imports will fill the demand-local supply gap. 

2. How does custom duty on gold impact gold prices in India?  Custom duty directly affects the landed cost of gold. Any rise in duty tends to increase domestic prices and a decrease may enhance affordability and demand. 

3. Which countries are the major exporters of gold to India?  The key countries that import gold in India include Switzerland, the United Arab Emirates, Australia, South Africa, the United States, Canada, Russia, and Ghana. 

4. How do changes in gold import policies affect traders and jewellers?  Policy changes influence sourcing costs, pricing strategies, and inventory planning. Traders and jewellers must closely monitor duty updates to protect margins and manage procurement efficiently. 

5. How can Cybex help businesses analyse gold import trends?  Cybex provides access to reliable gold import–export data, enabling businesses to track supplier countries, analyse historical trends, and make data-driven sourcing and investment decisions.