MMTC-PAMP wants fairer gold duty rules in Budget 2026
MMTC-PAMP, a major Indian gold refinery, is urging the government to fix what they see as unfair tax rules in the upcoming Budget.
Right now, dore imports are taxed at 6%, while refined bullion faces a slightly lower effective tax of 5.35%.
Their Managing Director, Samit Guha, says this small difference actually puts Indian refiners at a disadvantage.
Why does it matter?
Guha points out that these uneven taxes make it harder for local refiners to compete and grow.
The industry is pushing for similar exemptions and bigger incentives to attract investment and boost capacity—basically, they want India to become a global refining hotspot.
India's recycling scene could be huge
India's gold recycling sector is already worth ₹440 billion and supplies about 11% of the country's annual gold needs.
Guha believes with smarter policies—such as input-related benefits and duty differentials—India could really shine as an international refining hub.
MMTC-PAMP is even offering technical help to the government or ministry to make this happen.