India raises duty drawback rates for gold and silver jewellery exports

The Government of India amended the Customs Duty Drawback Schedule (Chapter 71) through Notification No. 64/2026‑Customs (N.T.), dated 16 July 2026. The amendment replaces the drawback rates for tariff items 711301, 711302 and 711401, more than doubling the rates for gold and silver jewellery export categories. The new rates are 1,851.99 for item 711301 and 29,501.09 for items 711302 and 711401, up from the previous 773.17 and 14,990.66 respectively. The change is intended to improve exporters’ liquidity, lower working‑capital costs and enhance the global competitiveness of Indian jewellery amid sharply higher precious‑metal prices. Industry bodies such as the Gem and Jewellery Export Promotion Council had requested the revision to better reflect actual duties paid on inputs used in export production.