The government on Tuesday banned the import of certain types of studded gold jewellery. The direct impact of this decision of the government will be seen in the form of reduced imports of certain types of studded gold from Indonesia and Tanzania.
Import of gold jewellery will be allowed but…
However, the Directorate General of Foreign Trade said that the import of these studded gold jewellery will be allowed in the valid tariff rate quota under the India-UAE free tariff agreement.
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The Directorate General of Foreign Trade has said in a notification that the import policy of gold jewellery studded with pearls, certain types of diamonds and other precious stones has been amended with immediate effect. Under this, these have been completely banned.
Increase in import of goods from Indonesia and Tanzania
According to information revealed by an industry expert, there has been an increase in the import of these items from Indonesia and Tanzania. At the same time, India has a free trade agreement with Indonesia. Items under the restricted category require license or permission from the government.
