00:04Center hikes Gold-Silver import duties from 6% to 15% to ease pressure on country's foreign
00:12exchange reserves. Gold prices soared by up to 8% after the new duties came into force on Wednesday.
00:22The revised duty includes a 10% basic customs duty and a 5% agriculture,
00:28infrastructure and development says. Import duty on platinum has been increased from 6.4% to 15.4%.
00:42Finance Ministry said MOVE is aimed at curbing overseas purchases and ease pressure on country's
00:49foreign exchange reserves. PM Modi had earlier urged citizens to avoid non-essential gold purchases
00:56for at least a year. Amid West Asia crisis, India's gold imports bill hit a record US dollar 71.98
01:06billion
01:06in 2025 to 2026 despite slightly lower volumes. The rupee plunged to a record low of 95.63 per US
01:16dollar
01:17amid the ongoing conflict. Similar to measures during Russia-Ukraine war, India is raising import duties,
01:25again to curb current account deficit and stabilize the rupee.
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