India hikes gold, silver import duty to 15%; jewellery retailers face margin, demand squeeze
Centre raised gold and silver import tariffs from 6% to 15% (platinum 15.4%) effective May 13, 2026, to defend forex reserves amid West Asia tensions. Tanishq, Kalyan, Malabar and Titan face higher input costs and softer wedding-season demand after PM's appeal to defer gold purchases.
India hiked gold and silver import duties from 6% to 15%, and platinum to 15.4%, effective May 13, 2026, to conserve forex amid West Asia crisis. Move follows PM's appeal to defer gold purchases, directly impacting jewellery retailers.