BREAKING: India has raised import duty on gold, silver, platinum, and jewellery components to 15% from ~6%, effective May 13, 2026.
The new structure includes 10% Basic Customs Duty and 5% AIDC. The move aims to curb rising imports, ease pressure on the rupee, and reduce forex outflows, following PM Modi’s recent appeal to avoid non-essential gold purchases. Domestic prices are likely to rise further.
