Gold, silver imports could lead to higher taxes in India
India's latest budget could mean higher taxes on gold and silver, as the government is expected to consider raising import duties in response to record imports in 2025 — $58.8 billion in gold and $9.2 billion in silver.
With most of this metal coming from abroad, the move aims to protect India's foreign reserves and ease pressure on the rupee.
Impact on economy and jewelry prices
Gold and silver aren't just for jewelry—they're a big deal for India's economy and global trade.
The new duty hikes could make buying jewelry pricier, but they're also meant to help balance the country's finances.
Meanwhile, observers have warned that US tariff policies could pose external risks to exports, while changes in GST rates might bring some relief for buyers.
If you're into tech or solar energy, rising demand for silver there could also impact prices down the line.