Overview
- DGFT revised the import policy for specified platinum jewellery from Free to Restricted with immediate effect until April 30, 2026.
- Importers must obtain prior authorisation from DGFT, covering unstudded items as well as semi-finished ornaments.
- The action follows September restrictions on certain silver jewellery that run until March 31, 2026.
- Authorities cite exploitation of ASEAN trade preferences, including reports of ‘platinum’ pieces containing about 90% gold, flagged by the India Bullion and Jewellers Association.
- Investigative reports describe consignments arriving in Amritsar and Delhi and being melted into bars to avoid a roughly 6.4% bar duty, with the government framing the curbs as protecting domestic manufacturers and foreign exchange.