India's 15% Gold Duty Returns May 2026, Reigniting Tariff Efficacy Debate
The restoration of a 15% customs duty on gold and silver from May 2026 has revived industry concerns. FY24 data showed gold imports surged 30.1% YoY to $45.5 billion despite elevated duties, fuelling questions over smuggling risks and rising input costs for jewellery exporters.
What happened
Indian gold & jewellery industry · India's restoration of 15% customs duty on gold and silver effective May 2026 has reignited debate over tariff efficacy. FY24
Key facts
- 15% customs duty
- $45.5 billion FY24 gold imports
- 30.1% YoY rise
- May 2026 effective
Why this matters
Evaluate bolt-on acquisitions of bonded warehousing, SEZ-based refiners, or compliant bullion sourcing platforms to hedge duty exposure ahead of May 2026.