Think tank GTRI has said the sharp rise in gold and silver import duties could increase imports routed through Dubai under the India-UAE CEPA agreement, while also creating larger tariff advantages and arbitrage opportunities for precious metal traders and importers
The Gem and Jewellery Export Promotion Council has urged the government to consult industry stakeholders following the hike in gold import duty, warning that higher duties could increase smuggling, raise exporter costs and worsen liquidity pressures, especially for MSMEs in the jewellery sector
