India’s gold rush veers to Dubai as UAE imports surge
India's gold import bill is surging, but the upward trend is primarily driven by imports from the United Arab Emirates (UAE), according to a recent analysis by the Global Trade Research Initiative (GTRI). The UAE's gold shipments have surged at a much faster pace than those from the rest of the world, leading to a significant shift in the geographic pattern of India's gold imports.
This trend has sparked a review of the preferential tariff available to gold under the India-UAE free trade agreement (FTA). Prime Minister Narendra Modi has even urged citizens to avoid unnecessary gold purchases, adding another layer to the debate surrounding the tariff concession.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
