Modi Made Gold Buying IMPOSSIBLE! Now INCREASED TAX Gold Duty to 15% - Indians Shocked #shorts

India’s recent decision to sharply increase import duty on gold and silver has become one of the biggest economic and financial news stories in the country. The central government raised the effective import tariff on gold and silver from 6% to 15%, a move aimed at reducing non-essential imports, protecting foreign exchange reserves, and supporting the weakening Indian rupee. The revised structure includes a 10% basic customs duty along with a 5% Agriculture Infrastructure and Development Cess (AIDC). The government introduced the measure during a period of rising economic pressure caused by global instability, expensive crude oil imports, and a widening trade deficit. India imports most of its gold from abroad, meaning large quantities of dollars leave the country whenever gold demand increases. Officials believe that making imported gold more expensive could reduce demand and help stabilize the country’s foreign exchange situation. Reports also noted that Prime Minister Narendra Modi recently urged citizens to avoid unnecessary gold purchases and foreign travel for a year as part of broader economic austerity efforts. The decision has triggered mixed reactions across the country. Many economists support the move as a short-term measure to protect the rupee and conserve foreign exchange reserves during a difficult global economic period. However, jewellers, bullion traders, and artisans have strongly criticized the duty hike. Industry groups warned that excessively high duties may revive gold smuggling and create a parallel grey market similar to what India experienced several years ago when import taxes were also very high. Gold artisans and small jewellery workers are especially worried about the impact on employment and earnings. Reports from jewellery markets in cities such as Mumbai, Pune, and Nagpur describe falling customer demand, cancelled orders, and reduced workshop activity immediately after the price jump. Some artisans reportedly said their monthly income had already dropped sharply because customers were postponing purchases or shifting toward lighter and lower-karat jewellery. Subscribe to FactTechz