Centre hikes gold, silver import duty to 15% amid West Asia turmoil
Customs duty on gold and silver imports raised from 6% to 15%, platinum from 6.4% to 15.4%, reversing the FY24-25 budget cut. Move follows PM Modi's appeal to defer gold purchases as West Asia conflict pressures forex reserves and the current account deficit.
What happened
Government of India · Centre hiked customs duty on gold and silver imports from 6% to 15% and platinum from 6.4% to 15.4%, citing West Asia war pressures on
Key facts
- gold/silver duty 6% to 15%
- platinum 6.4% to 15.4%
- FY24-25 budget cut from 15% to 6%
Why this matters
Revisit hedging frameworks and bonded-warehouse strategies, scrutinize gold-loan and lease-model partnerships for working-capital relief, and evaluate opportunistic M&A among smaller regional jewellers likely to face liquidity stress.