India restricts precious-metal jewellery imports from ASEAN
Change
India requires import licences for gold, silver and platinum jewellery from ASEAN countries, effective immediately, while permitting only imports into special economic zones and export-oriented units that are not sold in the domestic tariff area.
Why it matters
The measure closes the zero-tariff channel under the ASEAN free-trade pact that previously allowed duty-free entry for these goods. Customs authorities will no longer accept prior contracts, irrevocable letters of credit, advance payments or shipment status as exemptions, increasing the likelihood of detention or rejection for non-compliant consignments.
Implications
- • Procurement teams at jewellery retailers and wholesalers must secure an import licence from the Directorate General of Foreign Trade (DGFT) before shipment arrival, or consignments may be detained and denied customs clearance.
- • Customs brokers handling precious-metal jewellery shipments must present the DGFT licence with declarations, or border agents will detain and refuse entry for the goods.
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