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Gold, Silver import duty hikes to 15% from 6%, govt restrain imports

13 May 2026, 05:51 by Vaishnavi Verma · KalingaTV

New Delhi: Government of India has raised import tarrifs on Gold and Silver to 15% from 6% with an aim to curb precious metal imports and easing pressure on India on Wednesday.

According to ANI reports, Gold & Silver findings to attract 5% duty, Platinum findings at 5.4%. Precious metal spent catalyst set at 4.35%, subject to the fulfilment of compliance criteria.

This comes following Prime Minister Narendra Modi urged citizens of India to avoid buying gold for a year as it increases economic pressure linked to the ongoing Middle East conflict.

As per reports, higher tarrifs will lower the demand rate of the metals in world’s second-largest consumer country.

Even with record-high prices, gold and silver continue to hold strong cultural and financial value in Indian households, especially during weddings, festivals, and traditional celebrations.

Gold, Silver import duty hikes to 15% from 6%, govt restrain imports

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