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India gold imports jump 82% to USD 5.62 billion in April as customs duty doubles

India gold imports jump 82% to USD 5.62 billion in April as customs duty doubles

India’s gold imports surged 81.69% year-on-year to USD 5.62 billion in April, fueled by high global prices and reaching a record value. The commerce ministry data also shows silver imports jumped 157.16% to USD 411 million. But the government raised customs duty on gold and silver from 6% to 15% effective May 13, which officials expect will reduce import volumes later. Despite April’s spike, gold imports in tonnes fell 4.76%.

Summarised by Beize from a story on The Economic Times on 15 May 2026
SBI warns of higher gold prices and more grey market supply after 15% duty hike

SBI warns of higher gold prices and more grey market supply after 15% duty hike

SBI Research says a 15% customs duty hike on gold imports is likely to lift domestic prices and reduce legal import volumes. The report also flags a risk of supply diversion into grey markets, potentially reshaping the flow of gold into India. While the effect on the current account deficit is uncertain, the direction for pricing and imports appears clear.

Summarised by Beize from a story on The Economic Times on 14 May 2026

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Metal Stocks Jump As Global Base Metals Rally on Supply Shocks and Demand Surge

Metal Stocks Jump As Global Base Metals Rally on Supply Shocks and Demand Surge

Metal stocks surged on Tuesday as global base metal prices rallied sharply amid supply disruptions and strong demand. The momentum also lifted gold loan companies after the government raised customs duty on gold and silver, a move intended to curb imports while supporting domestic prices. Investors reacted positively across both metals and the lending space tied to bullion demand.

Summarised by Beize from a story on The Economic Times on 14 May 2026
Gold imports get pricier as Centre hikes customs duty to 15% shaking Titan Kalyan shares

Gold imports get pricier as Centre hikes customs duty to 15% shaking Titan Kalyan shares

The Centre has raised customs duty on gold and silver imports to 15%, putting pressure on jewellery stocks such as Titan Company and Kalyan Jewellers. The government says the higher levy will curb demand, help narrow the trade deficit, and support the rupee. For consumers, it may translate into higher costs and postponed purchases, impacting sales momentum.

Summarised by Beize from a story on The Economic Times on 13 May 2026
India hikes gold and silver import duties to 15 percent to protect foreign exchange reserves

India hikes gold and silver import duties to 15 percent to protect foreign exchange reserves

India has raised import duties on gold and silver to 15% from 6% to curb imports and ease pressure on foreign exchange reserves. The revised rate combines a 10% basic customs duty with a 5% Agriculture Infrastructure and Development Cess, aiming to support the rupee amid rising demand for bullion.

Summarised by Beize from a story on The Economic Times on 13 May 2026
HSN classification chaos could raise costs for India battery storage projects for years

HSN classification chaos could raise costs for India battery storage projects for years

Battery storage firms say an HSN classification muddle is driving up costs and delaying compliance for long-life projects. The sector is pushing for separate HSN codes, an approved manufacturer list, stricter local content norms, and clear rules on customs duty deferment under warehouse provisions lasting the full 12-year project life.

Summarised by Beize from a story on The Economic Times on 3 May 2026

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Nepal’s new tax on Indian goods sparks border protests and strains the roti beti bond

Nepal’s new tax on Indian goods sparks border protests and strains the roti beti bond

Nepal has begun strictly enforcing a customs duty rule on Indian goods, triggering protests across Bihar and Nepal’s Terai. Border communities describe how the change is disrupting weekly trade routines and raising the cost of everyday essentials. Many women, especially, argue the move weakens the “roti-beti” relationship—once rooted in family ties—by making cross-border dependence more fragile.

Summarised by Beize from a story on Republic on 29 Apr 2026
Govt to fix inverted duty structure in Budget for 13 to 14 products, boosting local manufacturing

Govt to fix inverted duty structure in Budget for 13 to 14 products, boosting local manufacturing

Ahead of the Union Budget on February 1, the government is considering changes to an “inverted duty structure” affecting 13 to 14 products. In some cases, taxes on inputs are higher than on finished goods, inflating costs for manufacturers and weakening competitiveness. The Commerce Ministry has flagged the issue to the Finance Ministry, urging reform to support local manufacturing.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Budget 2022 amendment lets customs officers demand duties despite Supreme Court order

Budget 2022 amendment lets customs officers demand duties despite Supreme Court order

Budget 2022 proposes a legal tweak expanding who can be treated as a “proper officer,” enabling CBIC customs officials or senior commissioners to perform assigned functions. The move is designed to invalidate a Supreme Court order, allowing DRI and Customs Preventive Audit officers to demand customs duty under the amended framework.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Government boosts pharma feedstock supplies to shield medicine prices from West Asia shocks

Government boosts pharma feedstock supplies to shield medicine prices from West Asia shocks

India is increasing petrochemical feedstock supplies to pharmaceutical manufacturers to protect essential medicine availability amid West Asia supply-chain disruptions. Refiners are now pushing key inputs such as propylene, ammonia and methanol, while customs duties have been reduced to lower landed costs. As a result, domestic drug prices are holding steady.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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India considers tax cuts for induction cooktops to slash prices and boost local makers

India considers tax cuts for induction cooktops to slash prices and boost local makers

India is considering lowering customs duties on induction cooktop components and reducing GST on the appliances themselves. The move is intended to encourage local manufacturing, improve supply conditions, and make electric cooking more affordable. To tackle lingering demand-supply gaps and price volatility, the government is also easing quality control orders selectively to protect raw material availability.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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