Finance Ministry
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Signals
Centre Waives 11% Cotton Import Duty Through Oct 31 to Cushion Textile Input Costs
India scraps the 11% customs duty on cotton imports from June 1 to October 31, 2026, easing raw material pressure for textile manufacturers, exporters, and apparel SMEs. Farmer interests are shielded via a higher MSP of ₹8,267/quintal (medium-staple) and ₹8,667/quintal (long-staple), with a ₹557/quintal hike. Sector employs 45 million.
The Hindu BusinessLine · 5/30/2026, 11:48:02 AM
India hikes gold, silver import tariffs to 15%, reversing 2024 cut to curb bullion inflows
Effective 13 May 2026, New Delhi raised total import duty on gold and silver to 15% from 6%, with BCD lifted to 10% plus 5% AIDC. Move targets $58.9bn gold and $9.2bn silver imports in 2025 as rupee pressure mounts. Jewellers face margin squeeze; findings dutied at 5-5.4%.
Mint · Industry · 5/14/2026, 1:11:10 AM
Import duty jump to 15% sends India gold to Rs 1.64 lakh; Chennai leads metros
Government hiked gold and silver import duties to 15% from 6% effective May 13, lifting domestic prices ~6% even as global spot weakened. Chennai gold hit Rs 1,64,190/10g, Delhi Rs 1,63,270, Mumbai Rs 1,63,710. Silver crossed Rs 2.77 lakh/kg in Delhi. Jewellers face festive-quarter demand risk.
NDTV Profit · 5/13/2026, 7:46:07 AM