India’s gold import duty hike to 15 may last a year, Senco warns jewellery demand could fall

Jewellery makers expect volumes to drop 10 to 15

India’s increased import duty on gold and silver could keep jewelry demand under pressure for up to a year, Senco MD Suvankar Sen said. Senco Gold expects volumes to fall 10–15% as shoppers shift toward lighter jewellery. The higher duty is intended to conserve foreign exchange reserves and support economic stability amid ongoing global uncertainty.