India Hikes Gold, Silver Import Tariffs to 15%
India has raised its import tariffs on gold and silver to 15% in an effort to curb overseas purchases and support the national currency. This move aims to address concerns over the country's import bill.
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Gold and silver prices today, Tuesday, May 12: Silver surges, gold slips
Read full article →Gold import duty raised to 15% from 6% 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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By Ravi Dutta Mishra
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 →India Raises Gold, Silver Import Tariffs To 15% To Curb Overseas Purchases
The government has imposed a 10% basic customs duty and a 5% Agriculture Infrastructure and Development Cess (AIDC) on gold and silver imports, taking the effective import tax to 15% from 6%.
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