India Tightens Gold Import Rules as Rupee Falls to Record Low
The notification reported on Thursday, May 14, applies to imports under the advance authorization route, typically used by exporters to bring in duty-free gold for processing. It follows a series of escalating measures. Two days prior, India more than doubled import tariffs on gold and silver to 15% and 6%, respectively, as Prime Minister Narendra Modi urged citizens to forgo…
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