Why Has the Centre Restricted the Import of Certain Precious Metal Alloys Containing Gold?
Click to start listening
Synopsis
In a strategic move to bolster domestic industries, the Centre has imposed restrictions on the import of specific precious metal alloys containing gold, while facilitating trade for essential inputs. Discover how this balanced approach affects various sectors and the broader trade landscape in our latest article.
Key Takeaways
- Import restrictions on alloys with more than 1% gold.
- Free import of alloys containing less than 1% gold.
- Policy supports domestic industries while ensuring input availability.
- Launch of the Global Tariff and Trade Helpdesk to assist trade.
- Measure aims to balance trade facilitation and regulatory oversight.
New Delhi, June 20 (NationPress) In a bid to support the domestic industry while ensuring no interruptions for actual use, the Directorate General of Foreign Trade (DGFT) has imposed restrictions on the import of alloys made from Palladium, Rhodium, and Iridium that contain more than 1 percent gold by weight.
This regulation builds upon the pre-existing limitations on Platinum imports, now extending to cover the entire Customs Tariff Heading (CTH) 7110 at the 4-digit level. This ensures consistency in the import policy for precious metals and their alloys, as stated by the Commerce Ministry.
Simultaneously, the policy promotes trade by permitting the free import of alloys with less than 1 percent gold, thus ensuring that essential inputs for sectors such as electronics, auto components, and specialized chemicals remain available without disruption.
This well-measured strategy strikes a balance between trade facilitation and the necessity for regulatory oversight.
Additionally, the DGFT has released a notification to limit the import of colloidal metals and compounds under CTH 2843. This step was taken to control the import of gold disguised as chemical compounds.
“Imports will be permitted for industrial and manufacturing sectors, including electronics, electrical, and specialized chemical industries, subject to import authorization, addressing the needs of the domestic industry without interruptions for actual use,” the DGFT stated.
Moreover, the government has recently launched a dedicated ‘Global Tariff and Trade Helpdesk’ aimed at aiding exporters and importers in navigating emerging trade challenges due to tariff increases announced by the US.
As the trade environment evolves and various tariff and counter-tariff measures are introduced, new export opportunities may arise alongside increased import pressures from specific countries or product sectors.
The 'Global Tariff and Trade Helpdesk' addresses issues related to Import and Export Challenges, Import Surges or Dumping, EXIM Clearance, Logistics or Supply Chain Challenges, Financial or Banking Issues, Regulatory or Compliance Issues, and Other Issues or Suggestions.
Point of View
I firmly believe that this policy reflects a pragmatic approach by the Centre to protect the interests of our domestic industries while ensuring that essential materials remain accessible. By balancing regulatory measures with trade facilitation, the government is taking a step in the right direction to bolster our economy.
NationPress
20/06/2025
Frequently Asked Questions
What is the new import restriction about?
The DGFT has restricted the import of alloys of Palladium, Rhodium, and Iridium containing more than 1 percent gold by weight to support domestic industries.
Why was this restriction imposed?
This measure aims to ensure availability of essential inputs for industries while maintaining regulatory oversight.
What is allowed under the new policy?
Alloys containing less than 1 percent gold can be imported freely, aiding various industrial sectors.
How does this affect the trade landscape?
The policy balances trade facilitation with the need for oversight, potentially opening new export opportunities.
What is the Global Tariff and Trade Helpdesk?
It is a newly launched initiative to help exporters and importers navigate emerging trade issues due to tariff hikes.
