Dubai gold trade hurt by new Indian import tariffs - 0 views
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anonymous on 08 Nov 13India, due to its plans to discourage gold imports, is increasing tariffs on Dubai. Dubai, a major provider of gold for India, is suffering because of the new tariff. As India was Dubais top trading partner; purchasing about 50% of Dubais gold. However, the tariff on Dubai gold imports have not stopped the trade, not in the least. In fact due to the tariff, more illegal transactions are underway to obtain gold.