From The Economic Times
Center-Right Owned by Bennett, Coleman & Co.India’s illegal gold imports surge 1,500% after tax hike
What each side is saying
One outlet's own words from each side of the spectrum. Quoted, not summarised.
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left · 1 outlet
Total jewellery demand in India dipped by 20% to 99.9 tonnes as compared to 125 tonnes in the same quarter of 2025, while in value terms it was up 16% at ₹1,48,700 crores
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center · 3 outlets
CHENNAI: India's gold demand fell 29 per cent year-on-year to 162.5 tonnes in the July-September quarter amid higher import duty, soaring prices and the Prime Minister's appeal to curb purchases, the World Gold Council (WGC) said. It projected full-year demand at 625-675 tonnes. Gold demand rose 25…
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right · 4 outlets
Gold demand fell 29% y-o-y to 162.5 metric tonnes in the September quarter, as jewellery purchases declined 20% and investment demand dropped 40%
RSS excerpt
India's illegal gold imports surged dramatically in the third quarter of 2023, reaching 50 metric tons. This rise is attributed to the government's recent duty hike on gold and silver imports. The increase in informal shipments is linked to previous tax increases that incentivized smuggling and cash…
