Dubai Sees 30% Jump in Gold Jewellery Demand After India Raises Import Duty
Dubai’s gold jewellery market is seeing a sharp surge in demand from Indian tourists and non-resident Indians after India raised its import duty on gold from 6% to 15% last week.
Jewellers across the city report a 20‑30% increase in sales, driven by buyers advancing their purchases before heading home. The price gap between Dubai and India has widened to roughly 11% even after accounting for VAT, making Dubai a far more attractive destination for wedding and investment jewellery.
“Many customers are advancing their jewellery purchases before travelling back to India,” said Anil Dhanak, a Dubai-based jeweller. Bridal collections, lightweight investment pieces, and 22K ornaments are seeing especially strong demand.
Gold prices have also dropped by more than Dh28 per gram over the past 10 days, adding to the appeal. In Dubai, 24K gold was trading at Dh547.5 per gram on Wednesday, while in India the same purity closed at the equivalent of Dh606 per gram.
With over four million Indians living and working in the UAE, and tourist arrivals growing, Dubai’s reputation as the “City of Gold” continues to pay off. Industry executives say the combination of transparent pricing, purity standards, wider design choices, and now a clear price advantage has cemented the emirate as the preferred destination for Indian gold buyers.
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