Gold, Silver Imports Costlier As India Raises Duties | India Hikes Gold Duty

India has raised import tariffs on gold and silver to 15% from 6%, government orders said on Wednesday, as part of efforts to curb overseas purchases of the metals and ease pressure on the country's foreign exchange reserves. The higher duties could dampen demand in the world's second-largest consumer of precious metals, although they may help narrow India's trade deficit and support the rupee, one of Asia's worst-performing currencies. However, industry officials warned higher import taxes could revive smuggling, which had eased after India cut tariffs in mid-2024. #Gold #Silver #ImportDuty #GoldPrices #SilverPrices #CustomsDuty #IndiaEconomy #BreakingNews #GoldImport #SilverImport #FinanceNews #Economy