India’s sharp increase in gold import tariffs is fuelling a resurgence in smuggling that could exceed 100 tonnes this year, as soaring grey market margins allow smugglers to undercut banks and refiners of the precious metal, industry officials and bullion dealers said. India, the world’s biggest gold market after China, more than doubled import tariffs to 15 per cent in May to curb demand, cut the trade deficit and ease pressure on the rupee. But the move has created an opportunity for...
One kg of yarn with high counts rose to ₹400, from ₹300 and textile industry sources say the removal of import duty on yarn by the Centre has brought partial relief to the units in Tiruppur
The duty exemption will help increase the availability of cotton for the Indian textile sector
A Customs officer said teams rely heavily on profiling, behavioural analysis and intelligence inputs to identify suspects
A delegation comprising apparel industry representatives and exporters met Vice President C.P. Radhakrishnan and several Union Ministers recently and sought the removal of the duty
Calling for Chief Minister Chandrababu Naidu’s intervention, CPI leader Eswaraiah says further relaxation of import duty and export restrictions during 2026 kharif will deepen the agrarian crisis
Congress leader Randeep Surjewala said the Prime Minister’s appeal, coupled with the decision to raise import duty on gold and silver from 6% to 15%, would severely hit small jewellers and encourage smuggling
Of late, the industry is facing severe crisis due to increase in cotton price, and consequently yarn prices. I understand this is caused primarily due to shortage of cotton production and increase in trading activity in the country, Mr. Vijay said
In today’s episode Union government steps up austerity measures as the West Asia crisis deepens, with the Centre doubling gold and silver import duty and BJP leaders cutting convoy sizes, U.S. President Donald Trump’s China visit, and more.
Following Prime Minister’s appeal to refrain from buying gold, people rushed to sell jewellery in anticipation of a price drop. But the subsequent import duty hike from 6% to 15% reversed the trend