These restrictions will apply regardless of any prior contract, irrevocable letter of credit score, advance cost, cargo standing, or another dedication, the Directorate Basic of International Commerce (DGFT) stated in a notification.
Accordingly, the good thing about transitional preparations shall not be out there.
“The Import Coverage and Coverage Situation of things … lined below Chapter 71 … is revised … with fast impact,” it stated.
The chapter consists of pure or cultured pearls, treasured or semi-precious stones, treasured metals, metals clad with treasured metallic, articles, imitation jewelry, and cash.
On April 1, the federal government introduced curbs on imports of gold, platinum and silver jewelry.
With this, now there are restrictions on all gold, silver and platinum jewelry imports.An trade official stated that some importers had been misusing the India-Asean FTA. The official urged the federal government to make the licensing process straightforward in order that real gamers don’t endure from the transfer.
India has a free commerce pact in items with the 10-nation South East Asian nation bloc Asean since 2010.
In November final yr, the federal government imposed import curbs on sure kinds of platinum jewelry until April this yr. In September 2025, related curbs had been imposed on silver jewelry until March this yr.
Some merchants had been attempting to make use of the FTA to make a fast buck by exploiting obligation differentials and circumventing tariffs, the official stated, including the transfer was geared toward curbing imports of those treasured metals within the title of unstudded jewelry from international locations like Thailand.
