"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

" Says Mohit Bhargava, general manager of the Retreat resort hotel: "Women friends of mine have stopped wearing expensive jewelry.

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Passing the order, Chief Justice Mohit Shah and judge Roshan Dalvi observed that it was "unfortunate that people in the film industry use others' concepts and then don't want to pay or give them credit".

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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.

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