Parliament Question: Increase in Import Duty on Gold and Silver

GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE LOK SABHA UNSTARRED QUESTION NO. 399 ANSWERED ON 21/07/2026 INCREASE IN IMPORT DUTY ON GOLD AND SILVER 399. SHRI RAMPRIT MANDAL: Will the Minister of COMMERCE AND INDUSTRY (okf.kT; ,oa m|ksx ea=h ) be pleased to state: (a) whether there is an apprehension that the increase in import duty on gold and silver will now lead to an increase in gold smuggling and illegal trade, if so, the details thereof; (b) whether the said smuggling and illegal trade may cause a loss of revenue to the Government, if so, the details thereof; and (c) whether there is also an apprehension that a parallel economy may emerge in the country due to said smuggling and illegal trade and if so, the details thereof? ANSWER okf.kT; ,oa m|ksx ea=ky; esa jkT;ea=h ¼Jh ftfru izlkn½ THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (SHRI JITIN PRASADA) (a) to (c) Customs field formations and DRI maintain constant vigil and operational readiness to prevent and detect smuggling activities, including smuggling of gold and silver. Such risks are continuously monitored and addressed through enforcement measures under the extant legal framework. Wherever instances of smuggling are detected, action is taken in accordance with the provisions of the Customs Act, 1962 and other applicable laws, including seizure and confiscation of smuggled gold and silver, and arrest and prosecution of the persons involved, as warranted. Details of gold and silver seized by CBIC from FY 2022-23 to FY 2026-27 (till 30.06.2026) are enclosed as 1Annexure-I. Gold Seizure Data No. of Qty. of Gold Seized No. of persons F.Y. Cases (in Kgs) arrested 2022-23 4619 4342.85 1740 2023-24 6599 4971.68 2003 2024-25 3005 2600.40 1240 2025-26 836 646.66 508 (01.04.2026 to 165 86.16 67 12.05.2026) 2026- (13.05.2026 to 287 160.91 116 27 30.06.2026)* *Customs duty on import of gold and silver was changed with effect from 13th May, 2026. Silver Seizure Data No. of Qty. of Silver Seized No. of persons F.Y. Cases (in Kgs) arrested 2022-23 64 784.29 1 2023-24 50 984.42 1 2024-25 47 2505.18 4 2025-26 44 542.58 3 (01.04.2026 to 7 49.53 8 12.05.2026) 2026- (13.05.2026 to 16 535.95 2 27 30.06.2026)* *Customs duty on import of gold and silver was changed with effect from 13th May, 2026. ***** 2