New Delhi: Free import of gold? Sounds great! While most Indians have already started dreaming of filling their lockers with gold, experts say the move may not immediately bring down soaring prices or even benefit consumers in a very big way.

"The move is definitely appreciable as it would help boost jewellery exports, which are a major foreign exchange earner, but when it comes to the consumer, there is not going to be much reduction in prices," says G S Pillai, former regional director, World Gold Council.

"The channelling agencies like banks and MMTC (Mines and Minerals Trading Corporation) were hardly charging half a per cent. So per 10 grams of gold, it would make hardly a difference of Rs 50-60, which would not be much of a difference," says Pillai.

Vivek Jalan, a certified gold wholesaler agrees, "The duties too are very less and are gradually decreasing further.

"At present they are around Rs 160 per 10 gram. If these duties go, the prices would again come down by just Rs 160 or so," he says.