India Hikes Gold and Silver Import Tariffs to 15%
India has raised import duties on gold and silver to 15% from 6% to curb overseas purchases and support the rupee. This move aims to address concerns over the country's import bill and protect the economy.
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India Hikes Gold and Silver Import Tariffs to Protect Economy - Bloomberg.com
India Hikes Gold and Silver Import Tariffs to Protect Economy Bloomberg.com
Read full article →Gold and silver prices today, Tuesday, May 12: Silver surges, gold slips
Read full article →Gold, silver import duty raised to 15% as govt moves to curb imports, support rupee
India has significantly increased import tariffs on gold and silver to 15% from 6% to curb imports and protect foreign exchange reserves. This move follows Prime Minister Modi's appeal for citizens to avoid gold purchases for a year, aiming to narrow the trade deficit and support the rupee amid global economic pressures.
By TOI BUSINESS DESK
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Read full article →India raises gold, silver tariffs to 15% to curb imports, support rupee: Report
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.
Read full article →Explained: Why India Raised Gold Import Duty, And What It Means For You
India's forex reserves have slipped amid the Iran war. By raising gold import duty, India is taking pre-emptive steps to save its forex reserves.
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