India's 15% gold duty returns May 2026, reigniting tariff efficacy debate
Restored 15% customs duty on gold and silver revives scrutiny: FY24 imports surged 30.1% to $45.5bn under the same regime. Jewellery exporters face margin squeeze, while UAE CEPA arbitrage and smuggling channels stand to widen.
India restored 15% customs duty on gold and silver in May 2026, reviving debate on tariff efficacy. FY24 imports rose 30.1% to $45.5bn despite same duty. Jewellery exporters face cost pressure; UAE CEPA arbitrage and smuggling risks rise.