Economy · India
Gold tariff hike fuels smuggling, hurts legal trade: World Gold Council
India's gold tariff hike has led to increased smuggling and harmed the organised trade, according to the World Gold Council (WGC). The WGC reported that overall gold demand in India declined by 6% in the second quarter of 2026. Despite the demand drop, consumer spending on gold reached a record high due to elevated prices. The increased duty is reportedly boosting the grey market for gold.
How outlets across the spectrum covered it
Left 1 · Centre 2 · Right 1 n = 4
- Left (1): The Telegraph (India)
- Centre (2): Business Standard, Deccan Herald
- Right (1): The Pioneer
- International (1): Reuters