India's silver triple-shock: 15% duty, DGFT licences, MCX refiner delivery to keep retail prices elevated
Import duty jumps from 6% to 15% (BCD 10% + AIDC 5%), silver bars reclassified as restricted requiring DGFT licences, and MCX opens delivery to domestic refiners. Incremental cost of Rs 26,100/kg will keep jewellery, silverware and coin prices structurally above global benchmarks despite a 7% domestic price fall.
India hiked silver import duty from 6% to 15%, reclassified silver bars to 'restricted' requiring DGFT licences, and MCX opened delivery to domestic refiners — set to keep retail silver jewellery, silverware and coin prices elevated above global levels.