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Written By DW
Last Updated : Monday, 11 May 2026 (17:36 IST)

No increased duties on gold and silver imports expected

Gold and silver bullion bars
Written By: DW
Updated: Mon, 11 May 2026 (17:36 IST)
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India has no plans for a raised tariff on gold and silver imports, a government source told Reuters news agency a day after Prime Minister Narendra ‌Modi called for people to buy less gold to stem the economic impact of the Iran war.
 
Modi on Sunday also called for people to conserve fuel, and limit travel and buying imported goods. Refraining from buying gold is meant to protect foreign exchange reserves.
 
There has been speculation that duties on gold could soon follow.
 
The last time India slapped tariffs on gold imports was in 2012 to 2013 to try and stabilize a depreciating rupee.
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