India raises gold import duty to 15% as imports slump
NewsBytes | May 15, 2026 9:40 PM CST
Indian buyers choose digital gold
The impact is clear: India's gold imports fell sharply compared to last year. With higher costs and weaker demand, some traders have paused imports altogether.
People are turning instead to things like digital gold and ETFs. Even with all these changes, annual gold use is still expected to top 700 tons, but delays and official bottlenecks are making things tough for the market right now.
The government hopes these moves will keep inflation in check and support the rupee.
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