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Why has India hiked custom duties on gold, silver and other precious metals?
The Narendra Modi-led government increased customs duties on imports of precious metals, including gold and silver, from six per cent to 15 per cent, a move that comes after the Prime Minister's austerity push. He further said that consequential changes have been made to other items, including gold and silver doré, coins, and findings. 'India proactively responding to external risks' Historically, customs duty on precious metals have been calibrated in response to prevailing macroeconomic and external sector conditions.
