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In a move following higher gold import duties, Directorate General of Foreign Trade has rolled out stricter compliance norms for gems and jewellery exporters under the Advance Authorisation scheme, capping imports and tightening monitoring to curb misuse and improve export accountability.

&nbsp;

DGFT Tightens Gold Import Rules: 100 kg cap per licence, stricter AA compliance norms

Imports form the lion's share in the import bill of India, which meets around 85 per cent of its oil requirement through imports.

US Trade Deal Update: Indian delegation to visit US on April 20, says official

Import duty increased on gold and silver! Will import duty increase from May 1? Know complete details from Jhanvi

Union Budget 2025: Will import duty increase from May 1?

According to revised data of the commerce ministry arm Directorate General of Commercial Intelligence and Statistics (DGCIS), gold import numbers have been slashed since April 2024, revealing excess imports of about USD 11.7 billion during the first eight months of 2024-25.

Government revises gold import data from April; cuts November figures by $ 5 billion to $ 9.84 billion 

In July alone, the imports declined by 10.65 per cent to USD 3.13 billion as against USD 3.5 billion in the same month last year. The inbound shipments were also in negative during June (-38.66 per cent) and May (-9.76 per cent).

Gold imports down 4% in April-July as jewellers await onset of festive season 

Last year, the DGFT had amended the import policy on unstudded jewellery and certain other gold articles to "restricted" from "free" category.

5 types of studded gold jewellery placed under import restrictions

The Indian government has restricted imports of certain gold jewellery and articles in an effort to address the swelling trade deficit. The move comes as imports of gold and other precious metals have declined in recent months. Importers will now need permission or a license from the government to import these gold products.

India restricts import of gold jewellery and articles to tackle trade deficit      

Quota allows one per cent less duty than usual on imports. DGFT's March allotments were termed as 'fixed-match' by bullion traders.

140 tonnes of gold imports: 341 get fresh quota; DGFT scraps controversial allotments to 78 

As per the earlier notification,78 applications from manufacturers were received now but the fresh window will be open for all those who have Importer Exporter Code (IEC).

Govt to soon notify fresh window for gold import from UAE at concessional rate

UBS India economist Tanvee Gupta Jain expects the upcoming budget to increase rural/agri spending by $10 billion

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As per the provision, 80% of Debt-Linked Savings Scheme (DLSS) will have to be invested in debentures and bonds of the company

Union Budget 2023: Govt likely to bring DLSS on par with ELSS

Centre has prepared the list of these items, which include private jets, helicopters, jewellery, vitamins, high-end electronic items, plastic goods, and high-gloss paper

Union Budget 2023: Government may increase customs duty on 35 items

Budget 2023 Expectation:&nbsp;Gold imports have a bearing on the current account deficit (CAD).&nbsp;India is the largest importer of gold, which mainly caters to the demand of the jewellery industry.&nbsp;In volume terms, the country imports 800-900 tonne of gold annually.

Budget 2023 Expectation: Commerce Ministry seeks cut in gold import duty in budget to push jewellery exports

Gold imports, which have a bearing on the country's current account deficit (CAD), fell 8.86 per cent to USD 27 billion (about Rs 1.90 lakh crore) during April-February period of the current financial year, according to commerce ministry data

Gold imports dip 8.86 pc to USD 27 bn during Apr-Feb 2020

"Total taxes on gold is about 13% at present. This has to come down, between GST and Customs duty, to a reasonable level so that there is no incentive to grey market," Somasundaram P R, head of the WGC's India operations, told PTI.

Budget 2017: World Gold Council demands lowering of gold taxes from current 13%

Keep labour-intensive sectors out of GST ambit: Nirmala Sitharaman

gold-import

In a move following higher gold import duties, Directorate General of Foreign Trade has rolled out stricter compliance norms for gems and jewellery exporters under the Advance Authorisation scheme, capping imports and tightening monitoring to curb misuse and improve export accountability.
 

Imports form the lion's share in the import bill of India, which meets around 85 per cent of its oil requirement through imports.

According to revised data of the commerce ministry arm Directorate General of Commercial Intelligence and Statistics (DGCIS), gold import numbers have been slashed since April 2024, revealing excess imports of about USD 11.7 billion during the first eight months of 2024-25.

In July alone, the imports declined by 10.65 per cent to USD 3.13 billion as against USD 3.5 billion in the same month last year. The inbound shipments were also in negative during June (-38.66 per cent) and May (-9.76 per cent).

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GOLD IMPORT

DGFT Tightens Gold Import Rules: 100 kg cap per licence, stricter AA compliance norms

US Trade Deal Update: Indian delegation to visit US on April 20, says official

Union Budget 2025: Will import duty increase from May 1?

Government revises gold import data from April; cuts November figures by $ 5 billion to $ 9.84 billion

Gold imports down 4% in April-July as jewellers await onset of festive season

5 types of studded gold jewellery placed under import restrictions

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Stock Market Today: Sensex slips over 300 points; Nifty below 23,150; IT stocks drag

Anil Singhvi Nifty50 Strategy: Strong support at 22,800-22,965—Key levels to track

Tata Steel, JSW Steel, SAIL in spotlight after Morgan Stanley, HSBC revise target prices

Why SEBI is rethinking how mutual fund executives' salary is disclosed: Investor rights vs employee privacy

Big Update on Ethanol Blending! Petrol with 22%-30% blend gets excise duty exemption - Details

Middle East War: US launches fresh strikes on 'multiple targets in Iran' post-Trump warning: Latest in crude & gold