India cuts jewellery export duty refunds

India has reduced duty drawback rates on gold and silver jewellery exports. The change affects exporters' margins and competitiveness in global markets.

The duty refund for gold jewellery was cut to Rs 1,794.11 per gram, and for silver to Rs 26,859.02 per kilogram. The move may limit exporters' ability to absorb price changes or pass on costs without losing orders.