Some Gold Imports Allowed via India Intl Bullion Exchange IFSC

The government on Wednesday permitted qualified jewelers to import certain kinds of gold, including some unwrought forms, through India International Bullion Exchanges IFSC Ltd. The changes were notified by the Directorate General of Foreign Trade (DGFT) in its gold import policy amendment. However, import of gold and silver under Advance Authorization and supply of gold and sliver directly by foreign buyers to exporters against export orders would continue to be governed by the foreign trade policy. The DGFT kept unchanged policy on import of powder, unwrought grains, sheets, plates and semi-manufactured forms of gold.

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