Imports of certain precious metal waste and scrap, as well as metal clad with precious metal, have been prohibited by the government. Previously, their imports were free.
The Directorate General of Foreign Trade changed the import regulation for ash containing precious metals or precious metal compounds such as gold, platinum, and silver from “free” to “restricted,” implying that inbound shipments would require a licence.
“With immediate effect, import policy has been altered from ‘Free’ to ‘Restricted,’” the DGFT stated in a notification. India imported $36.6 million of these items in April-February FY22, compared to $72 million in the full 2020-21 fiscal year.
