Duty Hike on Gold, Silver Imports Puts India’s Jewellery Trade on Alert
As India raises gold import duty from 6% to 15% amid economic pressure and a weakening rupee, the jewellery industry is preparing for higher prices, evolving demand, and possible market disruption, discovers Khursheed Mistry.
Government Increases Customs Duty on Gold, Silver and Jewellery Components
The Finance Ministry has increased customs duty across multiple precious metal and jewellery categories, impacting gold, silver, platinum findings and recycled precious metal imports effective from May 13, 2026.
India to Address Concerns on Silver Import Rules with UAE at Joint Task Force Meeting
India is preparing to address concerns over the sharp rise in silver imports from the UAE under the India-UAE Comprehensive Economic Partnership Agreement (CEPA). The issue, centered around rules of origin for concessional duties, will be discussed during a joint task force meeting between the two nations next week
Gold Imports Dip 4% in April-July as Jewellers Await Festive Boost
India's gold imports fell by 4.23% to USD 12.64 billion from April to July 2024-25, reflecting global economic uncertainties, according to recent government data
India Seeks to Reevaluate India-UAE Trade Pact Amid Concerns Over Precious Metal Imports
The Indian government is pushing for revisions to the India-UAE Free Trade Agreement, following recommendations from the Global Trade Research Initiative (GTRI) to withdraw duty concessions on precious metals and jewellery
In FY23, gold imports decreased by 24% to $35 billion
The dip in yellow metal imports has been attributed to high import duty, while the WGC predicts a healthy investment upside in 2023.
Gold imports fell by 30% to $31.8 billion during April-February 2023
Despite the substantial decrease in gold imports, the country's trade deficit, which is the disparity between imports and exports, has not been reduced.
Silver Indulgence: Investors from India have got Nearly 730Moz of Physical Silver Since 2010
As the world’s sixth-largest economy and foremost silver fabricator, India also plays an essential role in silver and gold investment demand.
Gold imports more than double to $ 38 bn in Apr-Dec 2021
In December 2021, gold imports rose to $ 4.8 billion from $ 4.5 billion in the year-ago period
India's gold imports rise sharply to $ 7.9 bn in April-June quarter
Import of gold has gone up significantly in the April-June quarter, Commerce Ministry data reveals
India's Gold Imports Drop 47 % During April-October
Gold imports, which have a bearing on the current account deficit, declined 47.42% to $ 9.28 billion during April-October
Silver Imports May Dip To Lowest Level In Recent Times
Unlike gold, silver prices show greater fluctuation and so does its demand and supply
South Korea seeks relaxation from India on gold and silver imports
The two nations implemented a free trade agreement in January 2010. Under the pact, basic customs duty on gold was eliminated.
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