Kavita Chacko
Research Head, India World Gold CouncilIndian gold import duties reduced to the lowest level in over a decade
- Gold import duty was cut by more than half
- Long-term capital gains tax on gold has been adjusted down and the holding period decreased
- Profits on gold ETFs and mutual funds will no longer be taxed at the short-term capital gains rate if held for at least 12 months
- Despite some potential short-term disruptions, we expect the combined effects of these changes to add at least 50t to gold demand in H2 2024