Archive · 3 Dec 2025
PHDCCI Proposes Zero Duty, PLI for Gold Ore
The PHD Chamber of Commerce and Industry (PHDCCI) has suggested that the government should remove import duties on gold ore concentrate.
They also want a special incentive program to help companies process more gold in India.
Right now, India imports a lot of gold, and the demand for gold is growing.
The PHDCCI believes that by making it cheaper to import gold ore and giving rewards for processing it locally, more companies will invest in this industry.
This could help India become more self-sufficient in gold and support long-term growth.
Currently, the import duty on finished gold has been reduced, making direct imports more attractive than refining gold locally.
PHDCCI proposed zero import duty on gold ore concentrate (HSN 26169010).
PHDCCI suggested a PLI scheme linked to the amount of gold refined.
India's gold demand rose by 5% in 2024 compared to 2023.
Expected gold demand in India is 700 to 800 metric tonnes in the next three years.
Reduction in import duty on finished gold from 15% to 6% has made direct imports more attractive.
- Who
- PHD Chamber of Commerce and Industry (PHDCCI)
- What
- Proposed zero import duty on gold ore concentrate and a PLI scheme to boost the domestic gold processing sector
- When
- Proposal made on Wednesday
- Where
- India
- Why
- To foster the growth of the gold ore processing industry, strengthen India’s strategic mineral security, and ensure the sector’s long-term sustainability
- Organization
- PHD Chamber of Commerce and Industry (PHDCCI)
- Proposal
- Zero import duty on gold ore concentrate (HSN 26169010)
- Additional Proposal
- Introduction of a Production-Linked Incentive (PLI) scheme
- Gold Demand Growth
- 5% rise in 2024 compared to 2023
- Expected Gold Demand
- 700 to 800 metric tonnes in the next three years
- Current Import Duty on Finished Gold
- 6%
- Previous Import Duty on Finished Gold
- 15%
- Gold Yield from Copper Ore
- 12 tonnes annually