Centre hikes import duty on gold, silver

In the backdrop of impact from West Asia conflict, the move comes after Prime Minister Narendra Modi’s recent advice to people to postpone gold buying until conditions normalize. The import of gold also causes huge foreign exchange outflow,” he said.

As per the notification, total duty on gold and silver now stands at 10 per cent, up from 6 per cent earlier. Platinum and related precious metal products, including hooks, clasps, clamps, pins and screw backs used in manufacturing, will also have a 10 per cent duty.

In addition, the Centre has imposed a 5 per cent agriculture infra and development cess on gold and silver imports.

The move takes the overall effective duty rate to 15 per cent from 6 per cent earlier.

Duty provisions for imports of spent catalysts or ash containing precious metals used for recovery and recycling purposes has also been raised to 10 per cent subject to specified conditions.

India’s gold imports reached nearly USD 72 billion in 2025-2026.