India reduces gold, silver import prices: What they are now
Business
India has dropped its official import prices for gold to $1,518 per 10gm and silver to $2,675 per kilogram, hoping to soften customs duties as global prices keep climbing.
This move comes at a time when buying these metals from abroad is getting pricier.
Impact on trade deficit and foreign currency reserves
Even with the price cut, high international rates could still push up India's overall import bill and widen the trade deficit—especially since almost all of the country's gold and most of its silver come from overseas.
If global prices stay up, experts warn that import costs could rise further in 2026, putting extra pressure on India's foreign currency reserves.