Government Changes Gold Import Duty

“In a major development for India's bullion and jewellery industry, the Government of India increased the effective import duty on gold and silver from 6% to 15%, with effect from 13 May 2026. The revised structure includes a 10% Basic Customs Duty and a 5% Agriculture Infrastructure and Development Cess. The move is aimed at moderating precious-metal imports and reducing pressure on India's foreign-exchange position.”