India restricts precious-metal jewellery imports
Change
India required import licences for gold, silver and platinum jewellery studded with pearls, diamonds and other precious stones from ASEAN, effective immediately and excluding consignments for SEZs and export-oriented units provided they are not sold into the Domestic Tariff Area.
Why it matters
The change removes tariff-free entry for these jewellery shipments under the ASEAN free-trade provisions, reintroducing customs controls and duties for affected tariff lines. Import clearances and supply timelines will face new regulatory checks even for goods already contracted or paid for.
Implications
- • Importers of gold, silver and platinum jewellery from ASEAN must obtain Directorate General of Foreign Trade import authorizations before seeking customs clearance.
- • Customs brokers and freight forwarders handling precious-metal jewellery arrivals must verify DGFT permissions and should withhold clearance for consignments lacking approval.
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