DGFT caps duty-free gold imports at 100 kg per authorisation after duty hike to 15%
A day after doubling gold and silver import duty to 15%, DGFT restricted duty-free gold imports under the Advance Authorisation scheme to 100 kg per authorisation. The twin moves squeeze jewellery exporters and reshape sourcing economics for Indian retailers including Tanishq, Kalyan and Malabar.
DGFT capped duty-free gold imports under the Advance Authorisation scheme at 100 kg per authorisation, a day after the government doubled gold and silver import duty to 15%, squeezing jewellery exporters and impacting Indian jewellery retailers' sourcing economics.