New Delhi: The Directorate General of Foreign Trade (DGFT), under the ministry of commerce ministry has notified changes with respect to import of certain types of unwrought, semi-manufactured and powdered gold and silver under particular conditions.
The modifications under India-UAE Comprehensive Economic Partnership Agreement (CEPA) between India and the Government of the United Arab Emirates (UAE), aligns India’s import policy schedule with modifications made in the Customs Tariff through Budget 2025.
The new rules, effective from 1 May 2025, and include revised HS codes for gold silver and platinum, clarifying details of who can import these precious metals.
“… the Central Government hereby amends the Import Policy and Policy Condition of specific ITC (HS) codes under Chapter 71 of Schedule –I (Import Policy) of ITC (HS) 2022 in sync with the Finance Act 2025 dated 29.03.2025, with immediate effect,” said a DGFT release.
The new restrictions allow import of these items only through nominated agencies as notified by RBI (in case of banks), DGFT (for other agencies) and by qualified jewellers as notified by the IFSCA for import through India International Bullion Exchange (IIBX).
For Gold (including gold plated with platinum) with 99.5% or higher purity unwrought or in semi manufactured forms, or in powder form, only Valid India-UAE TRQ holders as notified by IFSCA can import gold through IIBX against the TRQ and can obtain physical delivery of the same through IFSCA registered vaults located in SEZs as per the guidelines prescribed by the IFSCA.
The notification added that Gold Dore can be imported by refineries against an import license with Actual User (AU) condition.
Import of both Silver and platinum have been aligned with purity-specific conditions, with imports either permitted freely or routed through authorised agencies.
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