Business News

Reduce gold import duty to curb smuggling, says Malabar Gold chairman MP Ahammed

Jan 23, 2023

New Delhi [India], January 23 (ANI/Mediawire): The organized gold jewellery retailers are urging the finance minister to cut gold import duty in the Union Budget 2023-24 as any reduction in duty will help curb gold smuggling, boost exports of gems and jewellery, and empower organised jewellery retailers to cash in on the surging domestic demand. Emphasizing the industry's views, Malabar Gold & Diamonds founder and chairman M.P. Ahammed says India needs a robust gold policy that rationalises import duty and the gold retailers are expecting a favourable decision from the Centre in this regard.