Restrictions Imposed On Import Of Sure Gold Jewelry, Articles

Restrictions Imposed On Import Of Sure Gold Jewelry, Articles [ad_1]

The federal government imposed import restrictions on sure gold jewelry and articles. (Representational)

New Delhi:

The federal government on Wednesday imposed import restrictions on sure gold jewelry and articles, a transfer which might assist reduce the import of non-essential objects.

Now an importer would want a permission of licence from the federal government for importing these gold merchandise.

Nevertheless, the directorate basic of overseas commerce (DGFT) mentioned that the restrictions won't be there for imports underneath the India-UAE free commerce settlement.

In a notification, the DGFT mentioned that the import coverage of those merchandise "has been amended from free to restricted with rapid impact".

Imports of pearls, valuable and semi-precious stones dipped by 25.36 per cent to about USD 4 billion throughout April-Could this fiscal. Gold imports too contracted by about 40 per cent to USD 4.7 billion in the identical interval.

Total merchandise imports throughout April-Could this fiscal declined 10.24 per cent to USD 107 billion. The merchandise commerce deficit for April-Could 2023 stood at USD 37.26 billion towards USD 40.48 billion throughout April-Could 2022.

(Apart from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)

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