Non-resident Indians (NRIs) living in the UAE and tourists can save up to 15 per cent compared with Indian gold prices following India’s revision of duty-free gold allowance limits earlier this year.
Non-resident Indians (NRIs) and tourists in the UAE are better off choosing gold jewellery over coins when purchasing gold, according to leading Dubai jewellers, who point to conversion costs and travel restrictions linked to carrying gold coins.
The recommendation comes as buyers can save between 12 per cent and 15 per cent compared with gold prices in India.
Anil Dhanak, managing director of Kanz Jewels, said buyers are typically better served by purchasing gold jewellery directly instead of opting for coins.
“Tourists may face restrictions or practical challenges when carrying gold coins, while NRIs who later convert coins into jewellery often have to pay additional making charges,” he said, adding that purchasing jewellery directly is “often the more convenient and cost-effective option.”
Dhanak noted that, depending on market prices, taxes and exchange rates, buyers can typically save around 12 to 15 per cent by purchasing gold jewellery in Dubai compared with several markets in India.
Shamlal Ahamed, managing director for international operations at Malabar Gold and Diamonds, agreed, highlighting India’s higher gold import duties as a major factor contributing to the price difference.
“Gold prices in the UAE can often be around 15 per cent lower than in India,” he said.
For investors, the price advantage can be even greater, as the UAE does not impose value-added tax (VAT) on investment-grade gold, including certain 24K gold bars and bullion products. Tourists buying gold in the country may also be eligible for VAT refunds, adding to their overall savings.
In Dubai, 24K, 22K, 21K and 18K gold prices were trading at Dh496.5, Dh459.75, Dh440.75 and Dh377.75 per gram, respectively.
Why NRIs prefer jewellery in Dubai
Both jewellers said the majority of NRI buyers in Dubai choose jewellery over coins, mainly due to personal use, gifting and family occasions.
Dhanak said wedding purchases represent a significant portion of demand, along with jewellery bought for everyday wear.
Ahamed said purchases are commonly linked to “personal use, gifting, family celebrations, festive occasions, and, notably, weddings of children and close relatives,” adding that gold’s cultural importance in Indian households continues to make jewellery the preferred choice.
Gold coins and bars, meanwhile, are more popular among buyers looking for investment or wealth-preservation options.
Ahamed added that consumer trust is one of the UAE’s biggest attractions for gold buyers, with strict monitoring of purity and quality by UAE authorities providing greater transparency and confidence.
Know the duty-free limits
Jewellers advised travellers to stay informed about India’s customs rules before carrying gold into the country.
Under provisions introduced in India’s Union Budget effective from February 2026, women travellers can carry up to 40 grams of gold jewellery duty-free, while men can carry up to 20 grams, subject to eligibility criteria and customs regulations.
Dhanak said most buyers today are aware of the rules and can easily access updated information, but recommended checking the latest duty-free limits and required documentation before travelling to ensure compliance with customs requirements.
