Customs seizes 115 gold bars at Delhi airport as duty hike fuels smuggling surge
A 3.5 kg seizure at IGI Airport underscores how the import duty hike from 6% to 15% is widening the grey-market channel, pressuring sourcing costs and margins for India's organised jewellery retailers competing against cheaper smuggled supply.
Customs seized 115 gold bars weighing 3.5 kg at Delhi airport amid a rise in smuggling following the import duty hike from 6% to 15%, raising sourcing-cost and grey-market pressure on India's organised jewellery retailers.
Why this matters
Seizure reflects a broader pattern of post-duty-hike smuggling activity squeezing organised jewellery retailers, who face 9-point cost disadvantage versus grey-market competitors sourcing illicit gold.
Retail-brand signals steady at 285 over the last 90 days, with smuggling and duty pressure recurring.