Customs seizes 115 gold bars at Delhi airport as duty hike fuels smuggling surge

A 3.5 kg seizure at IGI Airport underscores how the import duty hike from 6% to 15% is widening the grey-market channel, pressuring sourcing costs and margins for India's organised jewellery retailers competing against cheaper smuggled supply.

— Source publishedSat, 16 May, 2026, 19:49 IST·First seen Sat, 16 May, 2026, 19:59 IST·Source The Hindu BusinessLine

What happened

Indian Gold & Jewellery Sector · Customs seized 115 gold bars weighing 3.5 kg at Delhi airport amid a rise in smuggling following the import duty hike from 6%

Key facts

  • 115 gold bars
  • 3.5 kg
  • duty hike from 6% to 15%

Why this matters

Smaller unorganised jewellers squeezed between higher duties and grey-market competition create consolidation openings—scout regional acquisition targets with strong customer books but weak sourcing leverage.