India Bullion & Jewellers Association flags rising smuggling via Gulf, Bangladesh and Nepal routes after duty hike to 15% plus 3% GST. WGC warns of a 2013-style surge, with ₹4.19 crore already seized in Kolkata and Mumbai. Threatens organised jewellery trade across Maharashtra, TN, Gujarat and Bengal.

ET Small Business · 6/2/2026, 6:34:20 PM

Jewellery buying collapsed across India after the May 13 duty hike from 6% to 15% pushed effective tax to 18.45%. Joyalukkas reports 35%+ sales decline; fortnight volumes fell to 7.5 tonnes from 25 tonnes. Retailers see shift to lighter pieces and a surge in old-gold resale, with small unorganised players hit hardest.

Times of India · Business · 5/30/2026, 8:29:49 AM

Fortnightly gold offtake collapsed to 7.5 tonnes from 25 tonnes after import duty jumped from 6% to 15%, lifting effective tax to 18.45%. Joyalukkas reports 35% sales drop; bar/coin demand bucks trend at +34% to 62.3 tonnes as prices hit ₹1.57 lakh/10g. Smaller jewellers hit hardest.

ET Retail · 5/30/2026, 5:45:44 AM

Volumes collapsed to 7.5 tonnes from 25 tonnes after import duty jumped to 15% from 6%, lifting effective tax to 18.45%. Joyalukkas reports 35% demand drop; Bhima sees shift to lighter pieces and old-gold exchanges. Bar/coin demand still rose 34% to 62.3 tonnes in Q1 as investors front-ran the hike.

ET Small Business · 5/30/2026, 12:57:12 AM

Jewellers slash making charges after Customs duty jumped from 6% to 15%, with Mumbai spot at ₹1,58,534/10g. WGC forecasts 50-60 tonne demand decline and 10% drop in 2026. Smaller retailers most exposed; bridal demand cushions chains like NAC Jewellers.

The Hindu BusinessLine · 5/24/2026, 5:24:36 AM

World Gold Council estimates India's gold demand will fall ~10% (50-60 tonnes) in 2026 after import duty rose from 6% to 15%. Investment demand is more exposed than jewellery, but listed jewellers like Tanishq and Titan face volume risk and a potential resurgence of smuggling channels.

Times of India · Business · 5/22/2026, 5:27:18 PM

World Gold Council forecasts a ~10% YoY contraction in India's gold demand in 2026 as the import duty jump from 6% to 15% squeezes jewellery and investment buying. WGC warns the move could revive smuggling, citing post-2013 unofficial imports surging from 10 to 70 tonnes.

ET Small Business · 5/22/2026, 2:55:18 PM

India's $39.7B gold market, projected to hit $68B by 2032, is rebalancing. H1 FY26 jewellery consumption dropped 26% while bars and coins rose 14% and digital gold transactions jumped 173% to Rs 2,079 cr. South India still drives 40% of demand, but the buyer is moving from ornament to investment.

Times of India · Business · 5/20/2026, 4:11:57 PM

World Gold Council flags 18% combined tax burden (10% BCD + 5% cess + 3% GST) risks reviving grey channels despite organized retail quadrupling share from 9% to 36% in five years. Blockchain-led 'Gold as a Service' model emerges as structural reshape for India's 350,000 jewelers.

Business Today · Latest · 5/19/2026, 8:50:48 AM

Investment-grade gold (bars and coins) accounted for 62.3 tonnes or 41% of India's Q1 CY26 gold demand, up from 34% a year ago, per World Gold Council. Jewellery's share slumped to 30%, a 25-year low. Total value hit $10B, a 129% YoY jump. ETF inflows added 19.9 tonnes, signalling a structural pivot from adornment to portfolio allocation.

The Hindu BusinessLine · 5/19/2026, 1:06:07 AM

Government raises bullion import duty to 15% (10% basic customs + 5% agri-infra cess) to curb imports and ease CAD. Jewellers warn of weaker demand at elevated prices and resurgent grey-market smuggling. Move follows 186% YoY surge in gold ETF inflows and 20MT Q1 demand.

Business Today · Latest · 5/15/2026, 3:29:54 AM

New regulated digital gold products from NSE and Dhan promise 999 purity and physical delivery from 100mg to 1kg across 75 cities. Yet 3% GST, 40-50bps conversion costs and limited vault access blunt appeal. With Q1FY26 gold demand at $25B and MCX prices up 122% in two years, branded jewellers — not hybrid products — are capturing the retail wallet.

Mint · Markets · 5/15/2026, 12:45:35 AM

Economists at CareEdge, Barclays and World Gold Council estimate the May 2026 duty hike to 15% could trim annual gold demand by ~60 tonnes and reduce imports by $2.5-9 billion, though smuggling risks and record international prices cloud the CAD benefit for FY27.

The Hindu BusinessLine · 5/13/2026, 10:44:56 PM

Economists from CareEdge, Piramal, and Barclays project India's May 13 gold import duty hike to 15% could cut annual demand by 50-60 tonnes and trim the import bill by $2.5 billion in FY27. However, smuggling risks and rising international prices may blunt CAD relief, with each 1% duty rise estimated to reduce demand by 0.8%.

The Hindu BusinessLine · 5/13/2026, 3:13:50 PM

Kerala Gold and Silver Merchants Association urges New Delhi to unlock 25,000-30,000 tonnes of household gold via recycling and bullion banking. Trade warns the 6%-to-15% import duty hike fuels smuggling worth ₹20 lakh profit per kg, while India pays ₹12 lakh crore annually to import 800 tonnes.

The Hindu BusinessLine · 5/13/2026, 8:12:45 AM