India Tightens Import Rules on Platinum Alloys

The government has imposed import restrictions on platinum alloys with less than 99% purity to prevent illicit imports blended with gold. Importers must now seek authorization for these imports. The policy aims to maintain a smooth supply for jewellery and industry while addressing tariff exploitation issues.

The government has taken a firm stance on import regulations by imposing restrictions on platinum alloys containing less than 99% purity. This measure is designed to counteract illicit imports of the valuable metal when blended with significant amounts of gold.

Importers are now mandated to secure authorisation from the Directorate General of Foreign Trade for any inbound shipments of such alloys. The revised import policy ensures unrestricted entry of platinum alloy with 99% or more weight purity.

This policy responds to reports of tariff exploitation and aligns with economic strategies to review trade agreements, particularly amid concerns over rising imports from the UAE involving precious metals and other goods.