India’s imports surged 16.6% in October 2025 to a historic high of USD 76.06 billion, driven largely by a sharp rise in precious metal purchases. Gold imports jumped to USD 14.72 billion, up from USD 4.92 billion a year earlier, while silver shipments also increased significantly. For the April–October 2025–26 period, total imports rose 6.4% to USD 451.08 billion, highlighting strong domestic demand and the substantial role of bullion inflows in pushing India’s import bill higher.