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India Raises Import Duty on Gold, Silver and Other Precious Metals to 15%

The Indian government increased the import duty from 6% to 15%, raising costs for key precious metal imports in one of the world’s largest bullion markets.

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Fact Check
The claim is strongly supported by multiple independent, authoritative sources. Reuters explicitly cites a government order confirming the tariff hike from 6% to 15% on gold and silver. CNBC provides the structural breakdown: 10% basic customs duty + 5% Agriculture Infrastructure and Development Cess (AIDC) = 15% total, effective May 13, 2026. LiveMint and Moneycontrol corroborate the same figures. Dozens of X posts from May 13, 2026 consistently report the same change. The only minor nuance is that the claim says 'import duty' while the actual structure is a combination of basic customs duty and AIDC, but the effective total rate of 15% and the prior rate of 6% are accurately stated. The stated rationale - curbing imports in one of the world's largest bullion markets - is also confirmed across all sources.
Summary

The Indian government has raised the import duty on gold, silver and other precious metals from 6% to 15%, according to the source. The move increases the tax burden on imported bullion and could affect pricing and demand in India, a major global market for precious metals. While the announcement is centered on traditional commodities rather than digital assets, changes in precious metal policy are often watched by crypto market participants because gold is frequently compared with Bitcoin as an alternative store-of-value asset.

Terms & Concepts
  • Import duty: A tax imposed by a government on goods brought into the country, typically raising domestic purchase costs for imported products.
  • Store of value: An asset expected to preserve purchasing power over time; in markets, both gold and Bitcoin are often discussed in this context.
  • Bitcoin: A decentralized digital asset that operates on a blockchain (shared digital ledger) without central bank control.