India Extends Gold Import Licences Amid West Asian Crisis

The Indian government has extended the validity of gold import licences under the India-UAE CEPA till June 2026, amidst the West Asian crisis. This extension aims to facilitate importers by accommodating the impact of geopolitical developments on global trade and logistics.

India's government has announced an extension for the validity of gold import licences issued under the India-UAE Comprehensive Economic Partnership Agreement (CEPA). Originally set to expire in March 2026, these licences will now remain valid until June 30, 2026. The extension is a response to the ongoing West Asian crisis that has disrupted global trade and logistics.

The decision was made public in a notice from the Director General of Foreign Trade, highlighting the need to adjust to prevailing geopolitical developments. The tariff rate quota (TRQ) under the CEPA allows for quota-based duty concessions on gold imports, which are crucial for Indian importers.

Initiated in 2022, the CEPA is a free trade pact between India and the UAE designed to bolster economic ties. This latest move underscores India's commitment to maintaining steady trade channels amidst international uncertainties.

(With inputs from agencies.)