India more than doubles gold import tariffs, squeezing jewellers
A sharp hike in India's gold import duty lands directly on jewellery retailers and branded chains, threatening near-term demand, margin compression, and a likely uptick in grey-market flows ahead of the wedding and festive buying window.
What happened
retail-brand · India has more than doubled import tariffs on gold, a move likely to impact gold retailers, jewellers, and consumer demand. Article body
Why this matters
Tariff shock could accelerate consolidation as smaller jewellers buckle under working capital strain—scout distressed regional chains and lock in gold supply agreements while competitors are defensive.