National News
The Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
Lower Tax Refunds Will Make Indian Gold and Silver Jewellery Exports More Expensive In The Global Market.
The Indian government has reduced the duty drawback ratesâthe tax refunds given to exporters for duties paid on imported raw materialsâfor gold and silver jewellery exports.
âGold Jewellery: The refund rate has been cut by 3.1%, dropping from Rs 1,851.99 to Rs 1,794.11 per gram.
âSilver Jewellery & Articles: The refund rate has been cut by about 9%, dropping from Rs 29,501.09 to Rs 26,859.02 per kilogram.
Back in July, the government nearly doubled these refund rates to support exporters against rising global costs. However, because gold and silver prices have since fallenâreducing the actual import duty paid in real termsâthe government adjusted the drawback rates downward to match current market conditions.
âImpact: Lower tax refunds will make Indian gold and silver jewellery exports more expensive in the global market.
National News
Global Gold Exports To Get Boost With New GIFT City Sourcing Rules
âExperts Say These Rules Build On India’s Strong International Rating Against Money Laundering.
Indiaâs massive gold refining industry has a big opportunity to export gold globally using the India International Bullion Exchange (IIBX) located in GIFT City, Gujarat.
âOn October 15, 2026, the financial regulator in GIFT City (IFSCA) introduced new rules called the Good Delivery Guidelines, 2026.
âTo earn a “Good Delivery” tag and sell gold internationally through GIFT City, Indian refiners must now:
âTrace Gold Origins: Prove where their raw gold comes from and avoid gold linked to war zones or illegal activities.
âKnow Their Partners: Identify suppliers, verify who owns them, and report suspicious deals.
âKeep Deep Records: Store transaction details for at least 8 years.
âPass Audits: Undergo independent checks every year and publish progress reports.
âFor Exporters: These strict standards match global hubs like London and New York. This gives international buyers confidence in Indian gold, opening up global markets beyond India’s domestic consumption (800â850 tonnes per year).
âFor Indian Consumers: Over time, it means cleaner sourcing, better quality checks, and fairer prices as local trade links directly with world markets.
âExperts say these rules build on India’s strong international rating against money laundering. However, the system’s success depends on how quickly officials set up auditor lists, finalize refinery checks, and launch trading platforms for these verified gold bars.
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The Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
Global Gold Exports To Get Boost With New GIFT City Sourcing Rules
MCX Bullion Futures Rise On Positive Momentum In Global Precious Metal Markets.
Global Gold Exports To Get Boost With New GIFT City Sourcing Rules
The Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
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