India’s gold tax rise opens GCC market opportunities

13/05/2026

■ India’s decision to raise import duties on gold and silver from 6% to 15% creates a significant price gap. Customers can now expect gold and jewellery in the GCC, to be approximately 12% more affordable compared to Indian markets.

With gold prices at or near all-time highs globally, the impact of the duty hike is amplified. The absolute monetary savings on each purchase are larger than ever, making it the most compelling time in recent memory to buy gold in the GCC rather than India.

■ India’s Union Budget, effective February 2026, revised the duty-free import limit for NRIs travelling back to India. Women can now carry up to 40 grams and men up to 20 grams of gold jewellery, duty-free.

■ As higher import duties make it increasingly difficult to bring international jewellery into India, consumers there will find themselves largely limited to locally produced designs. Malabar Gold & Diamonds, with its extensive global sourcing network, offers customers in the GCC access to over 200,000jewellery designs from over 20 countries, including Italy, Turkey, Singapore, Malaysia, South Korea, and China, spanning traditional craftsmanship, contemporary styles, and global fusion aesthetics.

■ In the GCC, gold purity and quality are actively monitored and regulated by the government, giving shoppers complete confidence and transparency in every purchase. Making charges across the GCC are also generally lower than in many other markets, adding further to the overall value proposition.

■ Shoppers at Malabar Gold & Diamonds benefit from the added assurance of lifetime jewellery maintenance across all global outlets and a guaranteed buyback policy, ensuring that every purchase is not just a buying decision but a sound, long-term investment.

■ The increased footfall and purchasing intent driven by this price differential is expected to give a strong uplift to the jewellery retail sector across the GCC, reinforcing the region’s position as the world’s premier gold shopping destination.

■ Mr. Shamlal Ahamed, MDInternational Operations, Malabar Gold & Diamonds: “India’s decision to increase gold import duties to 15% marks a significant moment for the GCC jewellery market.

For smart NRIs, tourists, and savvy investors, the message is clear - there has never been a better time to buy gold and jewellery across the GCC. The price advantage of 12% compared to India is not a marginal difference; it is a transformational one.

The recently revised duty-free allowance is a further incentive. A family of four travelling back to India can now collectively carry up to 140 grams of gold jewellery duty-free, and with NRI wedding season approaching in July and August, residents can enjoy massive savings by purchasing gold from the region. What also sets the GCC apart is the sheer variety on offer. With jewellery sourced from over 20 countries, shoppers here have access to over 200,000 designs to choose from. With the respective government ensuring strict gold purity standards, and the GCC offering some of the lowest making charges worldwide, customers already enjoy a major advantage.

Add to that Malabar Gold & Diamonds’ lifetime jewellery maintenance and guaranteed global buyback, and it’s clear that there has never been a better time to buy gold in the GCC. At Malabar Gold & Diamonds, we are fully prepared to welcome this new wave of discerning shoppers and offer them the quality, variety, and value that only a world-class jewellery destination can deliver”