The Indian government has raised the customs duty on gold and silver imports to 15%, comprising a 10% basic customs duty and a 5% Agriculture Infrastructure and Development Cess (AIDC). This significant increase from the previous 6% rate is expected to dampen consumer demand for jewellery, particularly affecting major companies like Kalyan Jewellers and Titan Company. The rise in import duties could lead to increased domestic gold prices, prompting buyers to defer purchases, especially in price-sensitive segments. However, established brands may weather the impact better than smaller unorganised jewellers due to their stronger market presence and customer trust. This policy shift aligns with the government's efforts to curb gold imports and manage the trade deficit, which has been a concern as India is one of the largest consumers of precious metals globally. The cultural importance of gold in India, symbolising tradition and wealth, may still drive demand despite higher costs.