India's Gold Duty Cut Diminishes Dubai's Appeal for Shoppers The recent reduction in customs duty on gold imports in India’s 2024 budget is expected to significantly alter the gold purchasing habits of Indian consumers, making it less attractive to buy gold from Dubai. This change narrows the duty differential, resulting in lower gold prices in India and boosting local gold jewelry production. Indian jewellers anticipate that a substantial portion of their business will shift from the UAE to India, as the reduced import duty allows them to offer competitive prices. Additionally, the lower labor costs and mandatory hallmarking in India enhance the appeal of buying gold domestically. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts China's Gold Demand Rises: Central Bank Buys as Lunar New Year Approaches READ MORE U.S. Wholesale Inflation Steady at 0.2% in August, Core Prices Edge Higher READ MORE Anticipation Builds for Potential Fed Rate Cuts in 2024 READ MORE Small Business Bankruptcy Relief Shrinks as Subchapter V Expansion Expires READ MORE 12 Nations Leading the Charge Seeking Dollar Alternatives READ MORE Add a Comment Cancel replyYour email address will not be published.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