India raises gold, silver import duty to 15% to curb imports, support rupee amid West Asia crisis

The Indian government has sharply increased customs duties on gold and silver to 15% from 6%, and platinum imports to 15.4% from 6.4%, as policymakers seek to contain pressure on the country’s foreign exchange reserves and external account during the ongoing West Asia conflict.

Consequential changes have also been made to related products including gold and silver dore, coins and findings.