Editor’s Note
India has imposed a 100 kg cap on duty-free gold imports per license for jewelry exporters, tightening rules to curb imports and manage the trade deficit. The move follows recent tariff hikes on gold and silver.
AHMEDABAD: A staff member shows gold bangles at a jewellery store in Ahmedabad.– AFP
India caps duty-free gold imports for jewelry exporters
May 14, 2026 07:52 p.m
NEW DELHI:
India on Thursday tightened rules for duty-free gold imports for jewelry exports by capping imports at 100 kilograms per license, the government said in an order, as the world’s second-largest consumer of the precious metal seeks to curb imports. The South Asian country earlier this week raised import tariffs on gold and silver to 15 percent from 6 percent as part of efforts to reduce overseas purchases of the metals and ease pressure on foreign exchange reserves from higher oil prices.
India is one of the world’s leading exporters of gold jewelry, and New Delhi allows manufacturers and jewelers to import gold without paying duty for export purposes under the advance authorization scheme. The government revised import rules for jewelry exporters on Thursday by capping gold imports at 100 kilograms per license and linking future licenses to fulfilment of at least 50 percent of earlier export obligations. First-time applicants will also face mandatory physical inspections of manufacturing facilities by regional authorities to verify the unit’s existence, production capacity and operational status, according to the order.
License holders must additionally submit fortnightly reports, certified by an independent chartered accountant, detailing gold imports and exports conducted under the scheme.
India’s gold jewelry exports, including both plain and studded segments, stood at $11.36 billion in the 2025/26 fiscal year ended in March, according to data compiled by the Gem and Jewelry Export Promotion Council.
— Reuters
LAST UPDATE: May 14, 2026 07:52 PM