India hikes gold, silver import duty to 15%, caps gold imports at 100 kg per shipment
Centre raised gold and silver import duties from 6% to nearly 15% and imposed a 100-kg gold import cap to defend forex reserves. Move lands as MCX gold trades at ₹1,61,978/10gm and spot gold slips to $4,610/oz, threatening jewellery demand at Augmont and listed retailers ahead of the wedding season.
What happened
India Gold Import Policy · India hiked gold and silver import duties to nearly 15% from 6% and imposed a 100-kg gold import cap to protect forex reserves, moves
Key facts
- import duty raised to 15% from 6%
- 100-kg quantity restriction
- MCX gold ₹1,61,978 per 10 gm
- spot gold $4,610/oz
Why this matters
Duty arbitrage and import-cap friction open a window to acquire stressed unorganised jewellers and lock in bonded-warehouse or GIFT City sourcing partnerships that bypass shipment-size constraints.