PAXG vs U.S. Gold ETF vs Indian Gold ETF for a 5-year investment from India?

I'm trying to decide how to invest in gold for the medium term (around 5 years) and would appreciate some opinions.

My main concern is India's import duty on gold.

From what I understand, Indian Gold ETFs track the domestic gold price. Since import duties were increased, domestic gold prices (and therefore Gold ETF NAVs) are higher than they otherwise would be. If the government reduces those import duties in the future, wouldn't the NAV of Indian Gold ETFs fall even if the international gold price stays the same?

That's making me consider alternatives like:

PAXG, which tracks the international gold price and is backed by physical gold.

U.S.-listed Gold ETFs (such as GLD, IAU, or GLDM), which also track the international gold price.

Am I thinking about this correctly, or am I missing something? For someone investing from India with a 5-year horizon, which option would you choose and why?