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Gold, Silver Imports to Cost More After Government Hikes Customs Duty to 15%

The Indian government has raised the import duties on gold and silver sharply, setting the new rates at 15% from the previous 6%. This move comes just days after Prime Minister Narendra Modi urged the public to avoid purchasing gold for the next year, in response to the growing economic strain caused by the Iran war and the pressure on India's foreign exchange reserves. The government's decision involves a 10% basic customs duty along with an additional 5% Agriculture Infrastructure

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13 May 2026 01:01 AM 13 views

Gold, Silver Imports to Cost More After Government Hikes Customs Duty to 15%

Business

India's Trade Deficit Expands Amid Surge in Gold Imports: Economic Outlook

India's trade deficit saw a notable increase in August, reaching $29.65 billion, up from $23.5 billion in July. This expansion was primarily driven by a sharp rise in gold imports, which totaled $10 billion—an astonishing 103.7% increase compared to the previous year. The surge in gold imports is linked to a reduction in customs duties, now set at 6%, which spurred consumers to stock up ahead of the festive season. Madhavi Arora, lead economist at Emkay, noted that while t

Business

27 Sep 2024 07:42 AM 1.45k views

India's Trade Deficit Expands Amid Surge in Gold Imports: Economic Outlook

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#goldimports

Gold, Silver Imports to Cost More After Government Hikes Customs Duty to 15%

Gold, Silver Imports to Cost More After Government Hikes Customs Duty to 15%

India's Trade Deficit Expands Amid Surge in Gold Imports: Economic Outlook

India's Trade Deficit Expands Amid Surge in Gold Imports: Economic Outlook

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Ofgem July Price Cap 2026: Why UK Energy Bills Are Rising

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Peter Mandelson to quit house of lords amid Epstein file revelations

From letters to reels, why the generation gap still exists

Bangladesh’s Yunus Announces Elections Likely in Late 2025 or Early 2026

BrahMos System Boosts India’s Defense Exports in Southeast Asia

Rishabh Pant leads LSG to win over SRH in Hyderabad clash

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Ohio considers income tax break for religious donations under HB 444

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Nidhhi Agerwal Reveals How Expensive It Is to Maintain an Actress’s Lifestyle

#goldimports

Gold, Silver Imports to Cost More After Government Hikes Customs Duty to 15%

Gold, Silver Imports to Cost More After Government Hikes Customs Duty to 15%

India's Trade Deficit Expands Amid Surge in Gold Imports: Economic Outlook

India's Trade Deficit Expands Amid Surge in Gold Imports: Economic Outlook

Peter Mandelson to quit house of lords amid Epstein file revelations

From letters to reels, why the generation gap still exists

Bangladesh’s Yunus Announces Elections Likely in Late 2025 or Early 2026

BrahMos System Boosts India’s Defense Exports in Southeast Asia

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Ohio considers income tax break for religious donations under HB 444

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