India raises gold import duty to 15%, brands push exchanges
Business
Gold imports in India just shot up to nearly $72 billion in FY26 (FY2025-26), a 24% jump, so the government raised import duties to 15% this May.
To help cut down on costly imports, big jewelry brands like Kalyan Jewellers, Titan, and Malabar Gold & Diamonds are encouraging people to exchange unused gold instead of buying new pieces.
Kalyan even launched the "Nation First-Gold4India Initiative" with special exchange counters and lighter jewelry options.
Experts: gold imports could fall 20-30%
Industry experts say promoting old gold exchanges and lower-carat jewelry could reduce imports by 20-30%.
With so much gold already sitting in Indian homes and temples, these moves could help the economy and give your old jewelry a fresh start.