Duty hike to 15% widens UAE-CEPA arbitrage; Dubai gold route set to swell
India's gold import duty jump from 6% to 15% pushes effective duty to 18.45%, while UAE CEPA holds at 14% with quota rising to 200 tonnes by 2027. Tanishq, Kalyan, Malabar face reshaped sourcing economics as Dubai-routed gold and silver (already +150% YoY) gain edge.
India's gold import duty hike from 6% to 15% widens the tariff gap with UAE CEPA route (14%), likely boosting Dubai-routed gold and silver inflows, materially affecting jewellery retailers' sourcing economics and arbitrage dynamics.