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Textile makers demand zero duty on cotton as prices jump 25% and output misses forecasts

Textile makers demand zero duty on cotton as prices jump 25% and output misses forecasts

Indian textile industry bodies have asked the government to scrap an 11% import duty on raw cotton after domestic prices jumped about 25% in two months. They say this crop year’s cotton output could fall roughly 10% short of initial expectations, with current production estimated at 29.2 million bales versus domestic demand of 328 lakh bales. Manufacturers also argue they’re losing ground to Vietnam and Bangladesh, where cotton imports enter duty-free, while a newly approved ₹5,659 crore cotton productivity mission is underway.

Summarised by Beize from a story on The Economic Times on 15 May 2026
Silver prices plunge Rs 17,500 in a day as duty hike gains vanish fast

Silver prices plunge Rs 17,500 in a day as duty hike gains vanish fast

Silver prices on MCX crashed, losing up to Rs 17,500 in a day and falling back below levels seen before the recent customs duty increase. The move followed weaker demand at higher prices, a softer industrial outlook, and a global picture clouded by growth concerns. With safe-haven buying fading and import duties jumping sharply, silver has entered a highly volatile phase.

Summarised by Beize from a story on The Economic Times on 15 May 2026

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India’s gold discounts soar past $200 as duty hike triggers selling shock

India’s gold discounts soar past $200 as duty hike triggers selling shock

India’s gold discounts surged to a record level above $200 an ounce after the government lifted gold and silver import duties to 15% from 6%. Higher local prices hit an already weak demand backdrop, prompting investors to sell even at steep discounts. While retail buyers and jewelers stayed away, gold futures jumped 7.2% to the highest in two months and investors booked profits in gold ETFs. Dealers also fear the hike will fuel smuggling by widening grey-market margins.

Summarised by Beize from a story on The Economic Times on 14 May 2026
Gold recycling schemes boom as prices rise and brands offer new jewellery for old gold

Gold recycling schemes boom as prices rise and brands offer new jewellery for old gold

As import duties rise and Prime Minister Narendra Modi urged Indians to delay gold purchases, jewellery brands are pushing recycling offers. Customers can exchange old jewellery for new pieces, with redemption value tied to purity and current market prices. Companies increasingly use XRF machines to test composition accurately, helping buyers get more transparent quotes while potentially reducing India’s gold imports.

Summarised by Beize from a story on The Economic Times on 14 May 2026
Apparel industry presses for duty cut on cotton as 45 lakh bales gap looms

Apparel industry presses for duty cut on cotton as 45 lakh bales gap looms

Apparel industry representatives met Vice President C P Radhakrishnan and ministers, demanding removal of an 11% import duty on cotton. They warn of a projected 45 lakh bales supply-demand gap for the upcoming season, which could push up input costs and strain domestic manufacturers. The request aims to ease cost pressures and protect the sector’s competitiveness.

Summarised by Beize from a story on The Economic Times on 14 May 2026
Gold Import Duty Jumps to 15% as Rupee Hits Record Lows

Gold Import Duty Jumps to 15% as Rupee Hits Record Lows

India has raised the basic import duty on gold to 15%, up from 6%, as the rupee slid to a record low of 95.85 per dollar. SBI says the hike supports rupee stability and helps contain the current account deficit, while analysts warn of a sharp price shock for India’s domestic jewelry market.

Summarised by Beize from a story on Republic on 14 May 2026

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Gold sales volumes could fall 10 to 15 percent after India duty hike say jewellers

Gold sales volumes could fall 10 to 15 percent after India duty hike say jewellers

India’s gold and silver import duty hike is expected to hit jewellery sales volumes by 10–15% initially, jewellers say. Still, they believe demand will remain resilient thanks to gold’s cultural and investment pull. Consumers may shift toward lighter designs as prices rise. The government also wants to save foreign exchange and drive domestic recycling of idle gold.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Gold and silver prices surge in India as import duty doubles to 15% pushing 24K to ₹1,63,000

Gold and silver prices surge in India as import duty doubles to 15% pushing 24K to ₹1,63,000

Gold jumped nearly 6% to around ₹1,63,000 for 24K and silver climbed about 6.2% to roughly ₹2,96,910/kg in India on 13 May 2026. The main trigger: the government more than doubled import duty to 15% from 6%, adding a 10% customs duty and 5% Agriculture Infrastructure and Development Cess. Markets also watched global safe-haven cues and US dollar moves.

Summarised by Beize from a story on Startup Talky on 13 May 2026
Gold import duty jumps to 15% here is what investors should do next

Gold import duty jumps to 15% here is what investors should do next

Gold surged after India raised import duty from 6% to 15%, pushing up MCX and IBJA rates, influencing gold ETFs and increasing jewellery retailer prices. Experts urge existing investors to avoid panic selling and treat gold as an inflation and global-uncertainty hedge. For new buyers, they recommend staggered purchases rather than investing a lump sum.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Silver prices jump after India raises import duty driving MCX IBJA and dealer rates higher

Silver prices jump after India raises import duty driving MCX IBJA and dealer rates higher

Silver prices jumped on May 13, 2026 after India increased customs duty on silver imports. Traders saw the move reflect across IBJA, MCX and major dealers as global geopolitical tensions and inflation fears added pressure. Analysts expect domestic rates to stay elevated, potentially cooling consumer demand, while the government targets a lower trade deficit and stronger rupee.

Summarised by Beize from a story on The Economic Times on 13 May 2026

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Zerodha CEO warns US gold duty surprise could enable insider trading and India is different

Zerodha CEO warns US gold duty surprise could enable insider trading and India is different

Zerodha CEO Nithin Kamath pointed to India’s tight market regulation after a surprise US import duty hike on gold and silver. He noted there was no unusual trading activity before the announcement, contrasting it with how privileged information could be exploited in less tightly governed markets. The comment adds a sharp lens on how policy shocks can ripple into markets.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Gold financiers jump up to 11% as India hikes gold import duty and prices spike

Gold financiers jump up to 11% as India hikes gold import duty and prices spike

Manappuram Finance, Muthoot Finance and IIFL Finance surged as the government raised gold import duty to 15%, pushing up domestic gold prices. The rally is tied to improved collateral value for gold-backed loans, which can strengthen borrower margins and potentially increase lending demand for these financiers.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Gold import duty hike sparks rush buying but sales volume could slide sharply experts warn

Gold import duty hike sparks rush buying but sales volume could slide sharply experts warn

India’s gold jewellery market is recalibrating after an import duty hike, triggering a short-term buying rush. Industry experts expect sales volumes to fall as consumers move toward lighter, lower-value pieces. Retailers may benefit from better margins on lower karatage jewellery, while old gold exchanges could see a boost as people look to turn in metal for new purchases.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Gold jumps nearly Rs 9600 after import duty hike but may fade fast

Gold jumps nearly Rs 9600 after import duty hike but may fade fast

Gold and silver surged on Wednesday after the government increased customs duty on precious metal imports, with MCX futures jumping close to 6% in a day. Gold rose roughly Rs 9,600 and silver nearly Rs 17,000, one of the biggest rallies recently. But traders see it as a largely one-off move amid ongoing Middle East tensions and tariff uncertainty.

Summarised by Beize from a story on The Economic Times on 13 May 2026

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India hikes gold and silver import duty to 15% to shield forex from West Asia shocks

India hikes gold and silver import duty to 15% to shield forex from West Asia shocks

India has sharply increased customs duties on precious metals including gold, silver and platinum to 15%, citing the need to conserve foreign exchange and protect the economy amid the ongoing West Asia crisis. The move, attributed to Finance Ministry sources, aims to curb import pressure as global uncertainty deepens and financial risks rise.

Summarised by Beize from a story on Republic on 13 May 2026
Gold import duty jumps to 15 percent sparking fears of grey market and jewellery price shock

Gold import duty jumps to 15 percent sparking fears of grey market and jewellery price shock

India’s gems and jewellery industry is bracing for strain after the gold import duty was raised to 15 percent. Industry leaders say higher costs could drive demand toward the grey market and even smuggling, while consumers may shift to lighter gold jewellery to manage rising prices. Leaders are meeting to assess impacts and potential responses.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Gold and silver ETF surge up to 15% after import duty hike sparks volatility fears

Gold and silver ETF surge up to 15% after import duty hike sparks volatility fears

Gold and silver ETFs jumped as precious metal prices spiked on India’s Multi Commodity Exchange after the government raised import duties. The rally pushed many funds higher, but experts warn investors against chasing the moment. Instead, they recommend sticking with a steady SIP approach to manage swings and avoid timing the top of the move.

Summarised by Beize from a story on The Economic Times on 13 May 2026
India’s gold import duty hike to 15 may last a year, Senco warns jewellery demand could fall

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

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.

Summarised by Beize from a story on The Economic Times on 13 May 2026

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Gold and silver spike after import duty hike Investors may need a rethink fast

Gold and silver spike after import duty hike Investors may need a rethink fast

Gold and silver surged on MCX after the Centre raised customs duty on precious metal imports to 15%, driving sharp gains in June gold futures and July silver futures. The move also comes as US consumer inflation rose, cooling hopes of an imminent Fed rate cut and adding volatility to global bullion sentiment. Investors now face a price shock that may not be short lived.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Gold import duty jumps to 15 percent as buyers face fresh 18k 22k 24k price shock

Gold import duty jumps to 15 percent as buyers face fresh 18k 22k 24k price shock

India has raised gold and silver import duties to 15% from 6% to curb overseas purchases and safeguard foreign exchange reserves. The change is already reflected in daily metal quotes across key cities, with Delhi and Mumbai showing 24k, 22k, and 18k rates at sharply updated levels for consumers watching today’s gold prices.

Summarised by Beize from a story on The Economic Times on 13 May 2026
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