India's 15% gold duty hike seen cutting demand 60 tonnes, saving $2.5B in imports
Economists at CareEdge, Barclays and World Gold Council estimate the May 2026 duty hike to 15% could trim annual gold demand by ~60 tonnes and reduce imports by $2.5-9 billion, though smuggling risks and record international prices cloud the CAD benefit for FY27.
India's gold and silver import duty hike to 15% from May 2026 could cut annual gold demand by 60 tonnes, saving $2.5 billion in imports, though economists differ on CAD impact amid smuggling risks and rising international prices.