The 2013 ghost returns: Will higher gold duties actually restrict imports or just fuel the grey market?
- Posted on May 13, 2026
- By Business News Today
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- 1 min read
The 2013 ghost returns: Will higher gold duties actually restrict imports or just fuel the grey market?
Indias shock hike in gold and silver import duty to 15% has revived memories of the 2013 crisis. While the move aims to curb dollar outflows and stabilise the rupee, experts warn it may simply push more demand into the grey market, with limited impact on Indias structural gold appetite.
