Government Considers Reducing Import Duties on Gold and Silver

The Indian government is currently in discussions to potentially reduce import duties on gold and silver from the current 15 percent to 6 percent.

Bullion traders and jewellery industry representatives have been actively lobbying for this reduction to lower costs and boost domestic demand.

A final decision is expected soon, as officials weigh the impact of the tax cut on the current account deficit and the broader bullion market.