Macro Finance
India’s Tax Hike Drives Illegal Gold Imports to Three-Year High
Bloomberg Markets·November 3, 2026·1 min read
India's illegal gold imports hit a three-year high in the third quarter, according to the World Gold Council, as a government duty hike pushed buyers toward unofficial channels. The surge reflects higher costs for legal imports, driving demand for smuggled gold. The report highlights the unintended consequences of tax policy on the precious metals market.
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