Gold Rate Today | Why India Raised Gold Import Duty, And What It Means For You

Days after Prime Minister Narendra Modi urged citizens to avoid buying gold for a year, the government followed through with a hard policy move: it raised the effective import duty on gold and silver from 6 per cent to 15 per cent. From May 13, gold now attracts 10 per cent Basic Customs Duty (BCD) and 5 per cent Agriculture Infrastructure and Development Cess (AIDC), up from 5 per cent and 1 per cent earlier. The change was notified by the Ministry of Finance under Customs Notification No. 16/2026. This is not just a tax tweak. It is a macro-economic signal aimed at saving dollars, cooling gold demand, and protecting India's foreign exchange reserves at a time of global stress due to the ongoing Iran war