The government's decision last July to reduce import duties on gold has significantly had a positive impact on the industry, and any increase in tariffs in the upcoming Budget may have adverse effects, said World Gold Council.
The reduction in import duty has ignited a resurgence in gold demand across India. Reports from the recently concluded India International Jewellery Show indicate a substantial increase in order bookings from retailers, particularly in preparation for the upcoming festive and wedding season.
New Delhi [India], January 23 (ANI/Mediawire): The organized gold jewellery retailers are urging the finance minister to cut gold import duty in the Union Budget 2023-24 as any reduction in duty will help curb gold smuggling, boost exports of gems and jewellery, and empower organised jewelle
New Delhi [India], July 1 (ANI): The Centre has raised the import duty on gold from 7.5 per cent to 12.5 per cent, as per an official gazette notification.