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India Gold Imports Drop 27 Percent In April-September After Duty Hike
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News18•15-10-2026, 16:00
India Gold Imports Drop 27 Percent In April-September After Duty Hike
- •India's gold imports declined by over 27 percent to USD 19.27 billion during April-September 2026.
- •The drop follows the government's decision to increase import duty on gold and silver from 6 percent to 15 percent in May.
- •Lower gold imports help ease pressure on India's merchandise trade deficit amidst foreign exchange reserves management.
- •Merchandise exports increased by 23.04 percent to USD 44.40 billion, narrowing the trade deficit to USD 30.21 billion.
Key Questions Answered
India's gold imports declined by over 27 percent to USD 19.27 billion during April–September 2026 following the government's decision to increase the import duty on gold and silver from 6 per cent to 15 per cent in May 2026.
The Central government raised the customs duty on gold and silver from 6 per cent to 15 per cent with effect from May 13, 2026.
The sharp fall in gold imports helped ease pressure on India's merchandise trade deficit. Overall, merchandise exports increased while the trade deficit narrowed to USD 30.21 billion from USD 33 billion a year earlier.
