Gold Jewellery Export Duty Drawback Cut 3 Percent and Silver Nearly 9 Percent
The government has cut duty drawback rates on gold jewellery exports to ₹1,794.11 per gram and on silver to ₹26,859.02 per kg. What it means for exporters, including Jaipur’s jewellery hub.
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“Gold Jewellery Export Duty Drawback Cut 3 Percent and Silver Nearly 9 Percent”
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16 Oct 2026
Key Highlights
- Gold: Drawback cut 3.1% from ₹1,851.99 to ₹1,794.11 per gram.
- Silver: Cut nearly 9% from ₹29,501.09 to ₹26,859.02 per kg.
- What it means: Smaller refunds for exporters, which could squeeze margins.
- Still higher than before July: Gold drawback remains more than double its pre-July level.
- Industry view: Experts say strong global demand could limit the impact.
The Finance Ministry has reduced duty drawback rates on exports of gold and silver jewellery and other precious metal products, according to a government notification issued on Friday.
The New Rates
| Product | Old rate | New rate | Change |
|---|---|---|---|
| Gold jewellery | ₹1,851.99/gram | ₹1,794.11/gram | −₹57.88 (−3.1%) |
| Silver jewellery and products | ₹29,501.09/kg | ₹26,859.02/kg | −₹2,642.07 (−9%) |
What Is Duty Drawback?
Duty drawback is a refund that exporters receive for customs and other duties paid on raw materials or inputs used to make goods that are exported. It helps keep Indian exports competitive by removing the burden of domestic duties from goods sold abroad.
Why It Matters: A Partial Reversal, Not a Full One
The cut comes just three months after the government sharply raised drawback rates in July to help exporters cope with rising costs and global uncertainty. Even after Friday’s reduction, the rates remain much higher than before July.
