India's 15% Gold Duty Returns May 2026, Reigniting Tariff Efficacy Debate
The restoration of a 15% customs duty on gold and silver from May 2026 has revived industry concerns. FY24 data showed gold imports surged 30.1% YoY to $45.5 billion despite elevated duties, fuelling questions over smuggling risks and rising input costs for jewellery exporters.
India's restoration of 15% customs duty on gold and silver effective May 2026 has reignited debate over tariff efficacy. FY24 data showed imports rose 30.1% to $45.5 billion despite high duties, raising concerns about smuggling and jewellery exporter input costs.