India to restore 15% gold and silver import duty from May 2026, reviving tariff debate
The return of a 15% customs duty on gold and silver imports from May 2026 reopens questions on tariff efficacy. With FY24 gold imports at $45.5 billion and a 30.1% YoY rise, higher duties risk fuelling smuggling and lifting input costs for jewellery exporters, while UAE-CEPA routing creates arbitrage that blunts the policy's bite.
India will restore a 15% customs duty on gold and silver imports from May 2026, reviving debate over tariff efficacy. Higher duties risk fuelling smuggling and raising input costs for jewellery exporters, while UAE-CEPA routing creates arbitrage that blunts impact.