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The government has sharply increased customs duties on gold, silver and platinum imports, citing the need to conserve foreign exchange reserves and protect the economy from rising global uncertainties linked to the ongoing West Asia crisis.

Govt hikes customs duty on gold, silver and platinum imports amid global uncertainty

Gold and Silver Price:&nbsp;Gold and silver futures surged more than 6 per cent in domestic trade after the government raised customs duties on precious metals, aiming to curb non-essential imports and conserve foreign exchange amid rising global uncertainty due to the ongoing West Asia crisis.&nbsp;

Gold, silver prices jump over 6% after govt raises import duties on precious metals

The Directorate General of Foreign Trade (DGFT) has released a fresh public notice updating the list of banks authorised to import gold and silver in India, bringing clarity to bullion trade operations that had recently faced disruptions.&nbsp;According to industry sources, around 5 metric tonnes (MT) of gold and 8 MT of silver were stuck due to procedural bottlenecks and clearance issues during the disruption period.

Centre updates authorised bank list for gold, silver imports; 15 banks cleared till March 2029

gold-and-silver-imports

The government has sharply increased customs duties on gold, silver and platinum imports, citing the need to conserve foreign exchange reserves and protect the economy from rising global uncertainties linked to the ongoing West Asia crisis.

Gold and Silver Price: Gold and silver futures surged more than 6 per cent in domestic trade after the government raised customs duties on precious metals, aiming to curb non-essential imports and conserve foreign exchange amid rising global uncertainty due to the ongoing West Asia crisis. 

The Directorate General of Foreign Trade (DGFT) has released a fresh public notice updating the list of banks authorised to import gold and silver in India, bringing clarity to bullion trade operations that had recently faced disruptions. According to industry sources, around 5 metric tonnes (MT) of gold and 8 MT of silver were stuck due to procedural bottlenecks and clearance issues during the disruption period.

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Gold And Silver Imports

Govt hikes customs duty on gold, silver and platinum imports amid global uncertainty

Gold, silver prices jump over 6% after govt raises import duties on precious metals

Centre updates authorised bank list for gold, silver imports; 15 banks cleared till March 2029

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