India hikes gold, silver import duty to 15%; UAE CEPA route tightened to 14% from May 2026
Duty on gold and silver raised from 6% to 15% (platinum 15.4%), while the concessional UAE CEPA TRQ rate moves from 5% to 14% effective May 13, 2026. Move targets forex conservation and CAD relief, with estimated import savings of $6-9bn and demand compression of 50-60 tonnes a year.
India sharply raised gold and silver import duty to 15% (platinum 15.4%) and tightened UAE CEPA concessional route to 14%, aiming to curb non-essential imports, conserve forex, and moderate CAD pressure amid West Asia crisis.