WGC: India gold demand to drop 50-60 tonnes in 2026 after import duty hike to 15%
World Gold Council forecasts a ~10% YoY contraction in India's gold demand in 2026 as the import duty jump from 6% to 15% squeezes jewellery and investment buying. WGC warns the move could revive smuggling, citing post-2013 unofficial imports surging from 10 to 70 tonnes.
WGC forecasts India's gold demand will contract 50-60 tonnes (~10%) in 2026 after import duty was hiked from 6% to 15%, hitting jewellery and investment demand and likely reviving smuggled gold inflows.