WGC: India gold demand may drop 50-60 tonnes in 2026 on duty hike
World Gold Council estimates India's gold demand will fall ~10% (50-60 tonnes) in 2026 after import duty rose from 6% to 15%. Investment demand is more exposed than jewellery, but listed jewellers like Tanishq and Titan face volume risk and a potential resurgence of smuggling channels.
What happened
World Gold Council · WGC estimates India's gold demand will fall 50-60 tonnes (~10%) in 2026 after import duty hike from 6% to 15%. Investment demand more
Key facts
- 50-60 tonnes
- 10%
- 6% to 15%
- duty hike
- 70 tonnes Q1 2014
- 10.75% to 15% in 2022
Why this matters
Duty hike opens a window to consolidate weaker regional jewellers and lock in supply partnerships before smuggling channels re-route demand away from organised retail.