India may impose 6-10% duty on gold jewellery imports from Thailand

Gold jewellery imported from Thailand into India is likely to attract a duty of six to 10 percent, is what India has informed Thailand in the proposed free trade agreement ( FTA), reports say. The move is being looked at to tame the rise in gold jewellery imports, reports add.

The government is concerned imports of gold jewellery from Thailand could increase following its imposition of a higher duty on gold import. The Indian commerce ministry is not looking at a total ban on the gold imports from Thailand. Negotiations for the FTA are under process and Thailand’s response is pending, reports add.