Nomura flags 5 more curbs after gold/silver duty hike; Rs 5/litre fuel hike could dent discretionary retail
After raising gold/silver import duty to 15%, Nomura expects New Delhi to tighten non-essential electronics imports, narrow the $250,000 LRS window, and push a Rs 5/litre petrol-diesel hike. With fuel carrying 4.8% CPI weight and a 25-30 bps inflation jolt likely, jewellery, electronics and discretionary baskets face a near-term demand squeeze.
Nomura expects further policy actions after gold/silver duty hike to 15%, including curbs on non-essential electronics imports, tighter LRS rules, and a Rs 5/litre petrol-diesel hike—measures that could squeeze discretionary retail demand and jewellery imports.