India restricts import of certain precious metal alloys containing gold
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New Delhi: To safeguard domestic industry needs while preventing misuse, the Directorate General of Foreign Trade (DGFT) has imposed restrictions on the import of alloys of palladium, rhodium, and iridium containing more than 1% gold by weight.
This measure expands upon the existing restriction on platinum imports by extending restrictions across the entire Customs Tariff Heading (CTH) 7110 at the 4-digit level, ensuring consistent import policies for precious metals and their alloys, the Commerce Ministry said.
However, the policy also eases trade by allowing unrestricted import of alloys with less than 1% gold content, thereby maintaining steady supplies for vital sectors such as electronics, auto components, and specialised chemical industries.
Described as a calibrated measure, the policy aims to strike a balance between trade facilitation and regulatory oversight.
Additionally, the DGFT has restricted the import of colloidal metals and compounds under CTH 2843 to prevent the entry of gold disguised as chemical compounds.
“The import will be allowed for industrial and manufacturing sectors, including electronics, electrical and specialised chemical industry, against an import authorisation, thereby addressing the need of the domestic industry without disruption for actual use,” said DGFT.
In response to recent tariff hikes announced by the US, the government has launched a dedicated Global Tariff and Trade Helpdesk to support Indian exporters and importers in navigating emerging trade complexities.
As global trade dynamics shift and new tariff and counter-tariff measures emerge, the initiative aims to help businesses identify fresh export prospects while addressing rising import-related pressures from certain countries or product categories.
The Helpdesk offers assistance across a range of challenges, including import-export hurdles, import surges or dumping concerns, EXIM clearances, logistics and supply chain bottlenecks, financial or banking issues, regulatory compliance matters, and other industry-specific queries or suggestions.
(inputs from IANS)
