India hikes Gold & Silver taxes as Modi pushes to protect the Rupee

India has raised import duties on gold and silver to 15% as Narendra Modi urges citizens to reduce gold buying to protect foreign exchange reserves. The move comes amid soaring oil prices, a weakening rupee, and rising geopolitical tensions. While officials hope to curb bullion imports, industry groups warn the higher tariffs could hurt jewellery demand and revive gold smuggling.