The Conversation (0)
Indian Gold Demand Expected to Rise After Import Tax Increase Avoided
Feb. 28, 2013 12:12PM PST
Precious Metals InvestingBloomberg reported that Indian gold demand is expected to rebound after the government held status quo with an import tax.
As quoted in the market report:
Bloomberg reported that Indian gold demand is expected to rebound after the government held status quo with an import tax.
As quoted in the market report:
Finance Minister PalaniappanChidambaram refrained from boosting the tax from 6 percent after it was tripled in the past year to curb demand. All India Gems & Jewellery Trade Federation, a grouping of retailers, traders and exporters, had predicted the duty to climb to 8 percent. The “status quo” on taxes is a good sign for the industry and will attract people to gold, said BachhrajBamalwa, chairman of the federation.
