India’s Gold Tariff Hike Fuels Smuggling, Hurts Trade

India raised the tax on gold to 15% to stop people from buying too much and to help the currency.

The higher tax made it cheaper for people to bring gold illegally, so more gold was smuggled in.

The government seized more gold than before, but the total amount of gold that entered the country fell.

The smuggling problem is still a big issue, and the government is trying to stop it.

The price of gold and how much people want it will decide if the situation gets better later in the year.