Indian gold retailers offer ₹450/g discount as 15% import duty squeezes demand
Jewellers slash making charges after Customs duty jumped from 6% to 15%, with Mumbai spot at ₹1,58,534/10g. WGC forecasts 50-60 tonne demand decline and 10% drop in 2026. Smaller retailers most exposed; bridal demand cushions chains like NAC Jewellers.
What happened
Indian Gold Jewellery Retail · Gold trading at ₹450/g discount in India after Customs duty hike to 15%. Jewellers cutting making charges to spur demand; WGC
Key facts
- ₹450/g discount
- 15% duty from 6%
- ₹1,58,534/10g Mumbai spot
- $4,516.75/oz global
- 50-60 tonnes demand decline
- 10% lower demand 2026
Why this matters
Distressed smaller jewellers unable to absorb the 9pp duty jump become acquisition targets within 2-3 quarters—prep a regional roll-up thesis targeting sub-scale players with bridal catchments but weak working capital.