"The government's revenue will increase, but imports won't diminish, " said Mohit Kamboj, president of the Bombay Bullion Association.
BBC: India raises gold import tax to tackle trade deficit
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Mohit Kamboj, President of the Bombay Bullion Association says he does not think this hike in gold import duty will affect a consumers appetite for gold, even if it means a gold bracelet may cost a little bit more.