Wednesday, 18 September 2013

India makes latest tweak to gold regime as confusion reigns | beyondbrics

India makes latest tweak to gold regime as confusion reigns | beyondbrics:

"
India’s mandarins aren’t quite done tinkering with the gold market.

This week, the government hiked customs duty on gold and jewellery from 10 per cent to 15 per cent, a move aimed both at reducing imports and protecting domestic goldsmiths ahead of the festival season.

By making imported jewellery more expensive, the measure will give a boost to local jewellers, who have been squeezed by a series of hikes to customs duties on the imported gold they use."

'via Blog this'

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