India Gold Tax Increase, Festival Demand Seen Spurring Smuggling

India Gold Tax Increase, Festival Demand Seen Spurring Smuggling

Kuni Takahashi/Bloomberg

A saleswoman shows jewelry to customers at Dwarkadas Chandumal Jewelers in Mumbai. India increased taxes on imports of gold, silver and platinum yesterday to tackle a record current-account deficit that’s weakened the rupee to an all-time low.