by Shivom Seth, MineWeb.com
Worried about India imposing further restrictions on the import of gold jewellery, Thailand has agreed to pay import taxes on gold and gold jewellery being shipped to India. An acrimonious situation had developed between the two countries over gold coming into India at concessional duties through Thailand under the bilateral free trade agreement.
In order to curb gold imports further, the Indian government has hiked the duty on gold jewellery imports from Thailand to 15% from the prevailing 1%, on October 23. Officials said the import duty differential was needed to protect millions of artisans engaged in making jewellery across the country.
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