India Slams Brakes on Gold Imports with 15% Duty Hike as Rupee Weakens Under Twin Pressures of Bullion and Energy - Tekedia

India raised import duties on gold and silver to 15% to curb bullion demand and support the rupee.

The hike follows a surge in bullion imports, a record trade deficit, and mounting pressure from higher oil prices and a weaker currency.

Officials hope the move will ease external strain, but the relief may be limited if energy costs stay elevated.

The policy could also increase smuggling risks and weigh on jewelry demand.