Jewellery Stocks Soar as FM Maintains Gold, Silver Customs Duty
Business
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Moneycontrol•01-02-2026, 15:28
Jewellery Stocks Soar as FM Maintains Gold, Silver Customs Duty
- •Kalyan Jewellers, Titan, and other jewellery stocks surged up to 6% after Finance Minister Nirmala Sitharaman kept customs duty on gold and silver unchanged.
- •Kalyan Jewellers India shares gained over 6.5% to Rs 385.3, while Titan Company shares jumped over 4% to Rs 4,143.5.
- •Gold imports currently attract a 6% duty (5% BCD + 1% AIDC), and silver imports are taxed at 6% for eligible residents, 36% for others.
- •The Centre had previously cut gold customs duty from 15% to 6% effective July 24, 2024.
- •Industry experts clarified that the announced reduction in tariff rate from 20% to 10% for personal use goods does not apply to gold and silver jewellery imports.
Why It Matters: Jewellery stocks rallied as the Finance Minister maintained current customs duties on gold and silver.
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