India More Than Doubles Gold, Silver Tariffs to Defend the Rupee The Indian government's decision to more than double tariffs on gold and silver imports has sparked a flurry of reactions from investors, economists, and policymakers.
This move appears to be a desperate attempt by the Reserve Bank of India (RBI) to shore up the rupee, which has been plummeting in value due to the ongoing Middle East conflict.
The Indian economy is vulnerable to external shocks, particularly those emanating from the global energy market.