Among the key areas of speculation is the import duty on gold and silver, two of India’s most beloved and widely consumed metals. Background: India’s Gold & Silver Import DutiesIndia’s gold and silver markets are among the largest in the world, with both metals holding immense cultural and economic significance. At present, the import duty on both gold and silver is set at 10%. Some experts believe that reducing the import duties could reduce smuggling, create a more transparent market, and boost tax revenues. As the Union Budget 2026 approaches, the question of whether the government will reduce the import duties on gold and silver remains unanswered.

Source: dna January 31, 2026 09:44 UTC