New Delhi: Leading precious metals refiner MMTC-PAMP has sought duty parity for domestic refiners in the upcoming Union Budget 2026, highlighting the need for a level playing field within India’s gold and precious metals ecosystem.
The company has called on the government to rationalise import and customs duty structures to ensure that refiners operating in India are not placed at a disadvantage compared to overseas players. According to industry stakeholders, disparities in duties on gold dore, refined gold, and other inputs have impacted competitiveness and margins for domestic refiners.
MMTC-PAMP emphasised that duty parity would encourage value addition within the country, strengthen India’s refining capacity, and support the government’s broader objectives of boosting manufacturing and reducing reliance on imported finished bullion. The move is also seen as critical for promoting transparency, compliance, and formalisation in the gold supply chain.
Industry experts believe that policy support in Budget 2026 could help India emerge as a global refining hub, while also generating employment and enhancing exports of value-added precious metal products.