Kerala jewelers urge duty cuts on gold and silver
Business
Kerala's jewelers want the government to cut high import duties on gold and silver, saying it's fueling a big jump in smuggling.
The Kerala Gold and Silver Merchants Association (KGSMA) links the spike in illegal imports directly to the duty hike from 6% to 15%.
This rise in smuggling cases is directly linked to the increased duty, said KGSMA State General Secretary S. Abdul Nazar.
KGSMA blames higher duties for smuggling
Higher duties have made legal gold and silver more expensive than international prices, making smuggling tempting and hurting legitimate jewelry businesses.
KGSMA says a fairer tax would curb illegal trade, support honest merchants, and actually boost government revenue.