Tariffs & Duties #gold#tariff
Gold tariff hike boosts grey market, hurts organised trade, says WGC
India's decision to more than double gold import tariffs to 15% on May 13, 2026, has boosted the grey market and hurt organised trade, according to the World Gold Council (WGC). The tariff, combined with 3% GST, creates an 18% arbitrage that spurs illegal inflows. Net gold imports fell 23% year-on-year to 98.1 tons in the June quarter, the lowest since September 2020.
Jul 30, 2026 1 source