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Govt allows certain gold imports through India International Bullion Exchange IFSC


The government on Wednesday permitted experienced jewellers to import specified forms of gold which include specific unwrought forms as a result of India Intercontinental Bullion Exchange IFSC Ltd.

The adjustments were being notified by the Directorate Normal of International Trade (DGFT) in its modification in the gold import plan.

“In addition to nominated organizations notified by RBI (in case of banking institutions) and nominated organizations notified by DGFT, capable jewellers as notified by Intercontinental Economical Sevices Centres Authority (IFSCA) will be permitted to import gold via India Intercontinental Bullion Exchange IFSC Ltd,” the directorate mentioned in a notification.

Even so, import of gold and silver less than Progress Authorisation and provide of gold and silver instantly by overseas buyers to exporters against export orders would go on to be governed by the foreign trade plan.

The DGFT saved unchanged the plan on import of powder, unwrought grains, sheets, plates and semi-created sorts of gold. Their imports will continue to be limited and permitted via nominates organizations notified by the RBI and DGFT.



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