India rules out gold import duty hike despite Modi appeal to avoid buying

Modi asked people to skip gold—yet duties stay put

India’s government has denied any plans to raise gold and silver import duties, responding to Prime Minister Modi’s appeal for citizens to avoid gold purchases amid economic strain. Officials say no duty hike is planned even as gold and silver imports surged in the last fiscal year. Experts warn that higher duties could fuel smuggling, while jewellery firms look to keep prices down.