Bearish for Gold
India Gold Import Duty Smuggling
Stable
Steady attention in Gold coverage, without a clear trend.
Updated 14 October 2026
The bearish argument: The hike in gold import duty to 15% will spur the grey market and smuggling activities.
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The argument and its evidence
Several outlets can carry the same argument; no single article is its origin. Read each one in its own context.
Recent coverage
Earlier coverage
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News18 · Published 14 May 2026
Import Duty Hike: Gold Discounts In India Breach $200/Ounce Record Amid Profit-Taking
In coverage record: 14 May 2026
“Dealers also worried that the higher duty could lead to more gold smuggling, as profit margins for grey market operators rose to about 18% from 9%, according to a dealer in Chennai.”
Read article -
The Hindu Business Line · Published 14 May 2026
Meerut’s Sarafa Bazar suffers and sulks at Modi’s call to curb gold purchase
In coverage record: 14 May 2026
“The gold grey market is already active was the buzz in Saraf Bazaar, where Vijayanand, Ankit and at least three other traders voiced fears of a rise in precious metal smuggling.”
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Daily Excelsior · Published 13 May 2026
Gold duty hike to hurt jewellery trade, spur grey market: GJC
In coverage record: 13 May 2026
“What the industry fears is that this will give rise to grey market… smuggling is likely to grow, setting up a parallel economy in the country.”
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