Gold Import Duty Hike to 15% Begins Curbing Inbound Volumes, Pressuring Jewellers
Government sources confirm India's gold and silver import duty hike from ~6% to ~15% (10% BCD plus 5% agri-infra cess) is starting to bite, with imports falling. Near-term bullion and jewellery demand likely to soften, though wedding-driven need-based buying continues to provide a floor for listed jewellery retailers.
India's hike in gold and silver import duty from ~6% to ~15% is starting to curb gold imports, pressuring jewellery companies and likely dampening near-term demand for bullion and jewellery, with need-based wedding purchases continuing.