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.
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.