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Apr 07, 2016· India's gold imports last year. $35 billion. The country vies with China as the world's biggest buyer of gold jewelry, thanks in large part to its cherished status in marriage ceremonies. Imports of the metal came to $35 billion last year, and were equivalent to about 43 percent of the country's current account deficit in the September
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India's been the number one source of global gold demand for decades importing close to a 1,000 tonnes in good years. But, following the closure of the iconic Kolar Gold Field in 2001 after more than 120 years and 800 tonnes or 26 million troy ounces of production, India is home to a single gold mine.
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