India ranks second in the world with 802.8 tonnes of gold demand in 2024: SBI report
According to an SBI Research analysis, India's total consumer demand for gold rose to 802.8 tonnes in 2024, or 26% of the world's total, placing it second only to China with 815.4 tonnes. The World Gold Council estimates that imports will account for about 86% of India's overall supply of gold in 2024, with domestic supply making up only a small portion of this total. Imports of gold rose by about 31% in FY24 and 27% in FY25. But in 2025, demand for gold has decreased due to rising prices.
According to a research by Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor at SBI, consumer demand for gold fell by almost 16% year over year in Q3 2025 due to decreased demand for jewelry. Gold imports decreased by 9% to $26.5 billion during the April–September period in FY26 from $29 billion d...










