Gold Duty Hike Boosts Centre’s Revenue

The Centre’s decision to increase customs duty on imports of gold, silver and platinum has generated significant revenue. Between May 13 and August 2, the government collected ₹10,463 crore in customs revenue from these precious metal imports, with gold accounting for the largest share. The duty hike came amid a sharp rise in international gold prices, which also increased the value of imports.

The government said the rise in revenue was not driven by a major increase in the volume of gold imports. Instead, higher international prices and the increased import duty contributed to the collections. During the same period, authorities also seized 161 kg of smuggled gold. India’s gold imports were valued at around $71.97 billion in the 2025-26 financial year, according to official data.