Imports

India’s gold imports soared to an unprecedented level in October, touching Rs 1.22 lakh crore (USD 14.72 billion) as demand surged ahead of the festive and wedding seasons. The sharp spike in shipments pushed the nation’s October trade deficit to its widest point in 14 months, raising concerns about inflationary pressures and foreign exchange outflows. The jump in gold imports also reflects robust consumer sentiment, despite elevated global bullion prices.

Union Agriculture Minister Shivraj Singh Chouhan has reaffirmed that no international trade agreement will be allowed to compromise the interests of India’s farmers. His statement comes at a time when negotiations on agricultural imports are gaining momentum in global forums. Chouhan underscored that while India remains committed to fair trade practices and international cooperation, the government’s top priority is safeguarding the livelihood of farmers who form the backbone of the rural economy.