Modi Govts Big Decision On Import Of Gold, Silver From United Arab Emirates

New Delhi: The Directorate General of Foreign Trade (DGFT), beneath the ministry of trade ministry has notified adjustments with recognize to import of sure forms of unwrought, semi-manufactured and powdered gold and silver beneath explicit stipulations.

The changes beneath India-UAE Comprehensive Economic Partnership Agreement (CEPA) between India and the Government of the United Arab Emirates (UAE), aligns India’s import coverage agenda with changes made within the Customs Tariff thru Budget 2025.

The new laws, efficient from 1 May 2025, and come with revised HS codes for gold silver and platinum, clarifying main points of who can import those treasured 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,” stated a DGFT unlock.

The new restrictions permit import of these things  best thru nominated companies as notified by means of RBI (in case of banks), DGFT (for different companies) and by means of certified jewellers as notified by means of the IFSCA for import thru India International Bullion Exchange (IIBX).

For Gold (together with gold plated with platinum) with 99.5% or upper purity unwrought or in semi manufactured bureaucracy, or in powder shape, best Valid India-UAE TRQ holders as notified by means of IFSCA can import gold thru IIBX in opposition to the TRQ and will download bodily supply of the similar thru IFSCA registered vaults situated in SEZs as consistent with the ideas prescribed by means of the IFSCA.

The notification added that Gold Dore may also be imported by means of refineries in opposition to an import license with Actual User (AU) situation.

Import of each Silver and platinum were aligned with purity-specific stipulations, with imports both accepted freely or routed thru authorized companies.