Gold Duty Hits 15% as Modi Urges Buyers to Defer Purchases, Pressuring Tanishq, Kalyan, Malabar
Government raises effective gold import duty to 15% (10% BCD + 5% AIDC) while PM Modi calls on citizens to delay gold buying for a year, putting RBI's Gold Monetisation Scheme back in focus. Move targets 700-tonne annual imports and 25,000 tonnes of idle household gold, squeezing listed jewellery retailers.
Government raises effective gold import duty to 15% and PM Modi urges citizens to defer gold purchases for a year, spotlighting RBI's Gold Monetisation Scheme. Move pressures jewellery retailers like Tanishq, Kalyan, Malabar amid import-curbing push.
Why this matters
Duty hike and Modi's deferral appeal mark a sharp policy pivot, redirecting demand from imports to the dormant Gold Monetisation Scheme and squeezing listed jewellers' near-term sales.
Retail-company signals steady at 2,117 over the last 90 days.