India Hikes Gold, Silver Import Duty to 15%; Modi Urges Citizens to Defer Purchases
Centre raises gold and silver import duty from 6% to 15% and platinum from 6.4% to 15.4%, citing forex and CAD pressures. PM Modi's call to postpone gold buying threatens festive demand for Tanishq, Kalyan, Malabar and Titan, with margin and footfall hits likely near-term.
What happened
Government of India · India has sharply raised import duties on gold and silver from 6% to 15%, and platinum from 6.4% to 15.4%, citing forex pressure and CAD
Key facts
- gold/silver duty 6% to 15%
- platinum duty 6.4% to 15.4%
Why this matters
Duty-driven stress on smaller unorganised jewellers opens a window for branded chains to accelerate consolidation and tuck-in M&A across Tier 2-3 markets at more rational valuations.