Hyderabad, April 20 -- Dubai's gold jewellers are adapting to shifting market dynamics by targeting South Asian buyers, particularly from India, following a recent reduction in gold import duties.

As reported by Reuters, India reduced its import duty on gold and silver from 15 percent to 6 percent on July 23, 2024. This move has narrowed the price gap that once made Dubai a preferred destination for gold shopping, diminishing its appeal for Indian buyers, particularly during major festivals like Diwali and Akshaya Tritiya.

As per Khaleej Times, jewellers in Dubai are responding by sourcing distinctive designs from international markets such as China, Turkey, Singapore, and Italy, while also developing exclusive collections locally.

The...