Jewellers push for tax cuts to unlock India's 32,000-tonne household gold recycling pool
Industry experts urge lower import duty, GST and capital gains tax on gold to make recycling viable, curb imports and counter Dubai which now supplies 60% of India's handmade jewellery. Gold prices surged 70% in 2025, peaking at Rs 1.75 lakh per 10g. NSE's Electronic Gold Receipts flagged as a formalisation lever.
Jewellery industry experts urge cutting gold import duty, GST and capital gains tax to boost recycling of India's 32,000-tonne household gold stock, curb imports and level playing field with Dubai. NSE's new Electronic Gold Receipts flagged as formalisation tool.