India's Bold Move: Reducing Bullion Import Taxes to Revitalize Market India has significantly reduced import duties on gold and silver from 15% to 6%, aiming to boost retail demand and combat smuggling in the world’s second-largest bullion consumer. This move is expected to create a more level playing field for industry stakeholders and potentially increase global gold prices. However, it may also widen India’s trade deficit and pressure the rupee. The decision led to an immediate drop in local gold prices, which could stimulate demand that had been suppressed by record-high prices earlier in the month. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts ECB's Second Rate Reduction Signals Gradual Shift in Monetary Policy READ MORE Striking Gold: Could Miner's Returns Outpace Gold Bullion? READ MORE China's Growing Gold Appetite READ MORE Moderate Inflation Easing Keeps Fed's Interest Rate Cuts on Hold READ MORE Oil Reaches $85 for the First Time Since October READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment