In a significant policy decision aimed at regulating precious metal inflows and strengthening macroeconomic stability, the government has raised the import duty on gold and silver to 15 percent. The move is expected to reshape bullion trade dynamics, impact domestic prices, and curb rising imports of precious metals. Policy Objective Behind the Duty Hike The...
In a significant policy move aimed at safeguarding foreign exchange reserves and stabilizing the domestic currency, the Government of India has increased the import duty on gold and silver from 6% to 15%. The decision comes against the backdrop of escalating geopolitical tensions in West Asia and mounting pressure on India’s forex reserves. Officials indicated...