India Raises Gold, Silver Import Tariffs to 15%

India raised the effective import tariff on gold and silver to 15% on 13 May 2026, from 6% earlier. The revised structure includes a 10% basic customs duty and a 5% Agriculture Infrastructure and Development Cess on imports of both precious metals.

Customs Duty Structure

The 15% effective tariff applies to gold and silver imports under the revised government orders issued on 13 May 2026. The duty structure combines basic customs duty and Agriculture Infrastructure and Development Cess, which are levied on imported goods under Indian customs law.

Gold Imports and Trade Data

India’s gold imports rose by over 24% in financial year 2025-26 to a record $71.98 billion. Gold became the second-largest import item after crude oil in the same period and accounted for nearly 9% of India’s total import bill.

Import Policy and Related Terms

The revised duties also apply to gold imported from the United Arab Emirates under the fixed-quantity quota system. The changes cover jewellery findings and precious metal-related industrial imports, which are categories used in customs classification and trade regulation.

Important Facts for Exams

• Basic customs duty is a central tax levied on imported goods under the Customs Act framework.
• Agriculture Infrastructure and Development Cess is an additional levy used in India’s customs structure.
• Gold and silver are classified as precious metals in trade and customs documentation.
• The United Arab Emirates has a quota-based trade arrangement for certain gold imports into India.

Foreign Exchange and Smuggling Context

India’s higher import tariff on gold and silver is linked to foreign exchange management, since gold imports add to the import bill. Gold smuggling has remained a recurring customs issue in India, especially when import duties rise sharply.