New Delhi, May 21 -- India's bullion market is undergoing a major transition after the government sharply raised import duties on gold and silver and imposed fresh restrictions on silver imports, triggering concerns around domestic pricing, ETF supply and future demand trends.

According to a report by Mirae Asset Mutual Fund, the recent measures are aimed at curbing imports, preserving foreign exchange reserves and stabilising the rupee during a period of global uncertainty and elevated crude oil prices.

The report noted that India raised import duty on gold and silver from 6% to 15% effective May 13, 2026, including 10% Basic Customs Duty and 5% Agriculture Infrastructure and Development Cess (AIDC). Since India imports nearly all of i...