According to industry reports, India's gold demand is expected to rise by 15-20 per cent during the festive and wedding season, especially after the government reduced the gold import duty earlier this year
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In FY24, India imported USD 5.4 billion worth of silver globally. As tariffs drop to zero over the coming years, it is anticipated that most silver imports will be sourced from the UAE, resulting in a potential revenue loss of Rs 6,700 crore due to the tariff advantage
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Despite the overall downturn, specific segments such as Gold and Silver segments displayed growth
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