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Import policy of gold dore is restricted: DGFT


Devdiscourse News Desk new delhi India
Updated: 30-11-2018 21:25 IST

The government Friday put the imports of gold dore in the restricted category.

"Import policy of gold dore is restricted," the directorate general of foreign trade (DGFT) said in a notification.

This means, now, an importer needs a license to import this commodity.

Gold dore is a semi-pure alloy which is refined for further purification. Refined gold bars are manufactured from gold dore bar.

India, the world's second-biggest gold consumer after China, imports about 900 tonnes of gold a year.

In value terms, gold imports fell by about 43 per cent to USD 1.68 billion in October.

The imports mainly take care of the demand for the jewellery industry.

(With inputs from agencies.)

COUNTRY : India

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