• The Indian government made a number of significant changes to legislation involving gold in 2013, with these having a marked impact on demand for gold and gold jewellery in the United Arab Emirates. In January of the year, the government increased gold import duties from 3% to 6%, subsequently further increasing this rate to 10% by August. This legislation dramatically increased the price of gold jewellery in India and encouraged tourists and expatriates to buy these products in the United Arab Emirates instead. According to the World Gold Council, sales of gold to Indian consumers rose by 22% in 2013, with this group buying 77 tonnes of gold jewellery.