Gold Imports Plummet to 25-30 MT After Duty Hike: Government Reveals Major Shift in Import Regulations
Significant Decline in India's Gold Imports
India's imports of gold have seen a sharp decline following the recent increase in import duty. A senior government source revealed that monthly gold imports have fallen significantly, settling into the range of 25 to 30 metric tonnes (MT). This represents a substantial decrease from previous levels where imports were reportedly between 75 and 100 MT.Banking Sector Role Eliminated in Gold Imports
A key regulatory change impacting the market is the status of banks regarding gold imports. The source explicitly stated that Customs has not designated banks as importers of gold since April 1, 2026. This move alters the traditional mechanism through which a significant portion of gold was imported into the country.Limited Agencies Permitted to Import Gold
Due to the revised import regulations, the number of entities authorized to bring gold into India has been drastically reduced. The source clarified that currently, only three agencies are permitted to import gold into the nation. This restriction includes major industry players such as MMTC, highlighting a focused regulatory approach.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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