India raises gold, silver import duty to 15% to curb imports, support rupee amid West Asia crisis
Gold, silver import duty hike: India has significantly raised customs duties on gold, silver, and platinum imports to 15% and 15.4%, respectively. This move aims to conserve foreign exchange reserves and stabilise the external account amidst the West Asia conflict and global economic uncertainty. The government seeks to moderate non-essential imports and support macroeconomic stability.