India's 15% Gold Tariff Hike Revives Smuggling, Squeezes Legal Jewellery Supply Chains
Doubling of gold import duty to 15% has pushed grey market discounts past $200/oz. Smuggled gold inflows could exceed 100 tonnes in 2026, undercutting banks, refiners and organised jewellery retailers reliant on legal channels.
India's doubling of gold import tariffs to 15% has revived smuggling, with grey market discounts exceeding $200/oz. Smuggled gold could top 100 tonnes in 2026, squeezing banks and refiners and pressuring legal jewellery retail supply chains.
Also reported by
- Moneycontrol — Same time
- Moneycontrol — Same time