Business News Today: Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News – Moneycontrol.com

The Gold Scare: Will India Hike Import Duty Again as Gold Prices Surge to Record Highs?


Gold prices are once again making headlines, and with imports rising sharply, fears of a possible increase in gold import duty are returning. But why does the government even raise import duties on gold, and what impact could it have on the economy, investors, and jewellery buyers?
India is one of the world’s largest consumers of gold, importing massive quantities every year. When gold imports rise too quickly, they can widen the trade deficit, put pressure on the rupee, and increase concerns around foreign exchange outflows. That’s why policymakers often use import duties as a tool to control demand.