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The Indian government has raised the import duty on gold and silver from 6% to 15% to reduce foreign currency expenditure and alleviate pressure on the country's foreign exchange reserves, a move that is expected to make gold and silver more expensive for traders and ultimately impact consumers, despite having no effect on international market prices. #GoldImport #EconomicPolicy #ForeignCurrency #IN #RU #UA #IR

During his visit to Telangana on May 10, Prime Minister Narendra Modi urged Indian citizens to take steps to save foreign currency, including avoiding gold purchases for a year, in response to economic concerns stemming from the global energy crisis exacerbated by the Iran war, which is impacting India's foreign exchange reserves and weakening the rupee. #Gold #Economy #ForeignCurrency #IN #IR