India Tightens Restrictions on Precious Metal Imports

India has imposed new restrictions on the import of palladium, rhodium, and iridium alloys containing over 1% gold by weight. These measures aim to prevent gold from being smuggled as chemical imports. This move also includes restrictions on colloidal metals and certain chemical compounds.

India has announced new import restrictions on several precious metal alloys, including those containing over 1% gold by weight. The decision, revealed by the government on Thursday, is part of an effort to control the unauthorized entry of gold into the country.

The latest measures also target colloidal metals and specific chemical compounds, which officials suspect are being used to disguise gold imports. This move comes as a response to increasing concerns about the illegal influx of gold into India.

The restrictions are aimed at tightening border control and ensuring that precious metals enter the country through legitimate channels. The government's statement suggests a crackdown on illicit trade practices involving these materials.

(With inputs from agencies.)