Big news: Gold and silver will become more expensive! Government increased import duty overnight, see here…

New Delhi. The Modi government has imposed 10% basic custom duty and 5% Agriculture Infrastructure and Development Cess (AIDC) on gold and silver imports, increasing the effective import duty from 6% to 15%. This increase has come into effect from Tuesday night itself. Its effect can be seen on the jewelery stock in the stock market today. At the same time, there is a possibility of a rise in the price of gold in the bullion markets today. Let us tell you that the Center wants to curb foreign purchases of precious metals and reduce the pressure on foreign exchange reserves.

10% duty will also be imposed on platinum and its products like hooks, clasps, pins etc. 10% duty will also be applicable on spent catalyst or ash containing precious metals coming for recycling, subject to certain conditions. According to the notification, the government has made changes in the old custom rules issued in 2000, 2018, 2021 and 2025.

After the increase in duty, there can be a big impact on the shares of jewelery companies. Recently, due to speculations about increase in custom duty, shares of companies like Titan, Kalyan Jewelers and Senco Gold had fallen by 10% to 15%. The total market cap of these companies decreased by about Rs 50,000 crore.

According to the news of Times of India, in the last financial year 2025-26, India imported gold worth a record 71.98 billion dollars i.e. more than Rs 6 lakh crore, which is 24% more than the previous year. India
Recently, PM Modi had appealed to the countrymen not to buy gold for a year, postpone foreign trips, reduce the use of chemical fertilizers, reduce the use of vegetable oil and reduce the consumption of petrol and diesel. He says that about 13 billion dollars of foreign exchange (Forex) can be saved by a little saving in a year.