India rules out gold, silver import duty hike despite Modi's forex austerity push
Government sources confirm no plans to raise gold/silver import duties or curb international card spending, easing jewellery trade fears. Move comes as PM Modi urged citizens to cut fuel, overseas travel and gold spending to ease forex pressure. US trade talks resume next month.
What happened
Government of India · Government sources clarified no plans to hike gold/silver import duties or restrict international card use, despite PM Modi urging reduced
Key facts
- 85%
Why this matters
Stable duty regime keeps jewellery M&A and JV economics intact, but monitor US trade talks next month for any reciprocal concessions that could shift the import landscape.