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India says no plans to raise gold and silver import duties after PM Modi appeal
India
Published on 11 May 2026
PM Modi urged no gold for a year
India has no plans to increase import duties on gold and silver, a government source said Monday. The reassurance comes a day after Prime Minister Narendra Modi urged people to avoid buying gold for a year, citing concerns linked to the Iran war. The move suggests policy may focus on demand restraint rather than higher trade taxes for the precious metals.
- Government source rules out any increase in gold and silver import duties
- Statement follows Prime Minister Modi’s request to avoid buying gold for a year
- Iran war cited as a reason behind the demand curbs
- Policy signal points to demand management over higher import taxes
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times