https://www.taxtmi.com/news?id=72776 Higher import duty on gold and silver is expected to affect jewellery volumes in the short term while encouraging recycling, exchange of old gold, and circulation of idle domestic gold. The increase is aimed at conserving foreign exchange reserves, reducing dependence on imported gold, and supporting a circular domestic gold economy. Consumer demand is still expected to remain resilient because gold retains strong cultural, wedding-related, savings, and investment significance in India, even as buyers shift toward lighter-weight jewellery and exchange-based purchases. en-us Wed, 13 May 2026 16:31:04 +0530 Wed, 13 May 2026 16:31:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=72776 Higher import duty on gold and silver is expected to affect jewellery volumes in the short term while encouraging recycling, exchange of old gold, and circulation of idle domestic gold. The increase is aimed at conserving foreign exchange reserves, reducing dependence on imported gold, and supporting a circular domestic gold economy. Consumer demand is still expected to remain resilient because gold retains strong cultural, wedding-related, savings, and investment significance in India, even as buyers shift toward lighter-weight jewellery and exchange-based purchases. News - Wed, 13 May 2026 16:31:04 +0530 https://www.taxtmi.com/news?id=72776