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.
Gold trading at ₹450/g discount in India after Customs duty hike to 15%. Jewellers cutting making charges to spur demand; WGC sees 2026 jewellery and bar/coin demand falling 50-60 tonnes. Smaller retailers most vulnerable; bridal demand cushions chains.