Gold, silver smuggling surges after Indian govt more than doubles import duty

Tue July 21 2026

The Indian government’s decision to increase the import duty on gold and silver has probably led to increased smuggling, with data showing a manifold jump in seizures of smuggled consignments of the precious metals.

On May 13, the Government more than doubled the Customs duty on gold and silver to 15 per cent from 6 per cent, including 5 per cent Agriculture and Infrastructure Development Cess. 

The seizure of silver consignments increased by more than 10 times between May 13 and June 30 compared with the April 1-May 12 period. On the other hand, gold consignment seizures jumped 186 per cent during the period, data provided by the Government in the Lok Sabha showed. 

Source: https://www.thehindubusinessline.com