Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

India Raises Import Tax On Gold To 12.5% From 7.5%

India fufills most of its gold demand through imports, which were putting pressure on the rupee which hit a record low earlier this week

Photo Credit :

1568802349_pUehzZ_Gold.jpg

India has raised its basic import duty on gold to 12.5 per cent from 7.5 per cent, the government said in a notification on Friday, as the world's second biggest consumer of the precious metal tries to dampen its demand.

India fufills most of its gold demand through imports, which were putting pressure on the rupee which hit a record low earlier this week.

(Reuters)



Tags assigned to this article:
india import tax gold