India Gold HS7108 Import Data 2025 August Overview

India Gold (HS 7108) 2025 August Import: Key Takeaways

India's Gold Import under HS Code 7108 in August 2025 reveals a high-purity market dominated by Peru, which supplies 91.85% of the value but just 16.95% of the weight, indicating premium pricing. Buyer concentration is high, with Peru as the primary source, while secondary hubs like the UAE and Ghana offer lower-value alternatives. The market shows tight geographic risk, requiring importers to diversify sources and comply with DGFT restrictions under CEPA agreements. This analysis is based on cleanly processed Customs data from the yTrade database for August 2025.

India Gold (HS 7108) 2025 August Import Background

What is HS Code 7108?

HS Code 7108 covers gold (including gold plated with platinum), unwrought or in semi-manufactured forms, or in powder form. This category is critical for industries like jewellery, electronics, and investment, driven by gold's role as a store of value and industrial material. Global demand remains stable due to its dual utility in luxury goods and financial hedging.

Current Context and Strategic Position

In August 2025, India’s gold imports under HS Code 7108 face tightened restrictions, with non-monetary gold of 99.5%+ purity (71081210) now classified as restricted [DGFT Notification]. Imports are limited to RBI-approved agencies, IIBX-qualified jewellers, and TRQ holders under the India-UAE CEPA, requiring BIS hallmarking and GST compliance [TaxGuru]. As the world’s second-largest gold consumer, India’s regulatory shifts aim to curb misuse while balancing trade under preferential pacts. Market vigilance is essential to navigate these evolving rules.

India Gold (HS 7108) 2025 August Import: Trend Summary

Key Observations

In August 2025, India's import of Gold under HS Code 7108 reached an unprecedented value of 508.79 billion USD with a volume of 25,650 kg, starkly contrasting with the subdued levels seen in earlier months of the year.

Price and Volume Dynamics

Month-over-month, the value skyrocketed from July's 7.81 billion USD, while volume dipped from 43,340 kg, pointing to a dramatic shift in import patterns rather than typical seasonal stock-building for festivals. Year-over-year comparisons are not feasible with available data, but the extreme volatility aligns with industry cycles where policy shocks override normal demand rhythms, prompting rushed, high-value transactions ahead of regulatory changes.

External Context and Outlook

This surge is directly tied to India's tightened import restrictions, as the DGFT's May 2025 move to curb non-monetary gold imports [sjexim.services] likely spurred a pre-enforcement import rush. With new TRQ rules and hallmarking mandates (lexworks.co.in), future flows may normalize under stricter compliance, keeping volatility elevated near-term.

India Gold (HS 7108) 2025 August Import: HS Code Breakdown

Product Specialization and Concentration

According to yTrade data, the India Gold HS Code 7108 Import market in August 2025 is heavily concentrated in sub-code 71081290, representing non-monetary unwrought gold, which holds over 98% of the total import value. This sub-code shows a high unit price of approximately 28 million USD per kilogram, indicating a focus on high-value gold forms. An extreme price anomaly is noted in sub-code 71081310 for semi-manufactured gold, with a unit price of 214 million USD per kilogram, which is isolated from the main analysis due to its outlier nature.

Value-Chain Structure and Grade Analysis

The non-anomalous sub-codes fall into two main groups: unwrought gold under 71081210 with a lower unit price around 633,535 USD per kilogram, and semi-manufactured gold under 71081390 with a unit price around 438,997 USD per kilogram. This breakdown suggests a trade in fungible bulk commodities, where pricing is driven by purity and processing stage rather than product differentiation, typical of raw material markets.

Strategic Implication and Pricing Power

Importers should prioritize sourcing high-purity unwrought gold to maintain competitive pricing, especially given recent policy shifts that restrict certain gold imports under HS Code 7108, as highlighted by [DGFT]. Navigating these regulatory changes is crucial for managing costs and ensuring supply chain stability for India Gold HS Code 7108 Import in 2025 August.

Check Detailed HS 7108 Breakdown

India Gold (HS 7108) 2025 August Import: Market Concentration

Geographic Concentration and Dominant Role

In August 2025, India's import of Gold under HS Code 7108 is heavily concentrated, with Peru dominating by contributing 91.85% of the total value but only 16.95% of the weight. This large gap between value and weight ratios shows that Peru supplies high-purity gold, which commands a premium price per kilogram.

Partner Countries Clusters and Underlying Causes

Two main clusters emerge: high-volume, lower-value sources like Ghana and the United Arab Emirates, which may provide standard gold ore or act as trade hubs under the India-UAE CEPA [Lex Works], and moderate contributors like Brazil and Colombia, likely offering mid-grade gold from regional mines. Low-frequency countries such as Argentina and Armenia might serve niche markets with specialized gold products.

Forward Strategy and Supply Chain Implications

Importers must adapt to DGFT restrictions on HS Code 7108 by using authorized channels like nominated agencies or TRQ holders under CEPA (Lex Works). Diversifying sources beyond Peru can reduce dependency, while leveraging trade agreements with the UAE may help manage costs and ensure compliance with new hallmarking and GST requirements.

Table: India Gold (HS 7108) Top Partner Countries (Source: yTrade)

Get Complete Partner Countries Profile

India Gold (HS 7108) 2025 August Import: Action Plan for Gold Market Expansion

Strategic Supply Chain Overview

India Gold Import 2025 August under HS Code 7108 is a commodity market driven by purity grade and regulatory shifts. High-purity unwrought gold from Peru sets the price benchmark, while DGFT restrictions heighten compliance risks. Supply chains face concentration vulnerability, with dominant large-volume buyers and limited sourcing options defining trade flows. Processing hub roles are critical, as semi-manufactured forms show significant price differentiation based on refinement stage.

Action Plan: Data-Driven Steps for Gold Market Execution

• Diversify sourcing beyond Peru using trade data to identify alternative high-purity suppliers like Ghana or UAE-based hubs, reducing dependency on a single origin and mitigating supply disruption risks.
• Leverage India-UAE CEPA terms for gold imports by aligning with authorized agencies or TRQ holders, ensuring cost-efficient and compliant entry under updated DGFT notification 08/2025-26.
• Target large-volume, frequent buyers with bundled offers based on purchase history analysis, securing stable revenue streams while negotiating bulk discounts to maintain competitive pricing.
• Monitor HS Code 7108 sub-codes for purity-linked price shifts using real-time trade data, adjusting procurement to prioritize higher-margin unwrought gold (71081290) over semi-processed forms.
• Implement strict documentation checks for all shipments to comply with hallmarking and GST requirements, avoiding customs delays or penalties under recent regulatory changes.

Take Action Now —— Explore India Gold Import Data

Frequently Asked Questions

Q1. What is driving the recent changes in India Gold Import 2025 August?

The surge in import value to 508.79 billion USD in August 2025 reflects rushed, high-value transactions ahead of India’s tightened restrictions on non-monetary gold imports, overriding typical seasonal demand patterns.

Q2. Who are the main partner countries in this India Gold Import 2025 August?

Peru dominates with 91.85% of import value, while Ghana and the UAE serve as secondary sources, likely supplying standard-grade gold or acting as trade hubs.

Q3. Why does the unit price differ across India Gold Import 2025 August partner countries?

Prices vary by gold form and purity: unwrought gold (71081290) averages 28 million USD/kg, while semi-manufactured gold (71081390) trades at ~438,997 USD/kg, reflecting processing stage and grade.

Q4. What should importers in India focus on when buying Gold?

Prioritize sourcing high-purity unwrought gold from Peru while diversifying suppliers to mitigate dependency risks, and comply with DGFT restrictions to avoid disruptions.

Q5. What does this India Gold import pattern mean for overseas suppliers?

Peru’s dominance as a high-purity supplier creates reliance, but niche players (e.g., Argentina, Armenia) can target smaller segments like infrequent bulk or specialized gold orders.

Q6. How is Gold typically used in this trade flow?

Gold imports are primarily fungible bulk commodities, with non-monetary unwrought gold (71081290) constituting 98% of value, indicating industrial or investment-grade use.