Quick Summary
The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, has issued Notification No. 03/2026-27, introducing major amendments to the import policy of precious metals and related items under Chapter 71 of ITC (HS) 2022. The revised rules have come into immediate effect, tightening import norms for several categories, including gold, silver, platinum, and their alloys. Key Highlights of the DGFT Notification Introduction of Policy Condition No. 7 A new Po
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FAQ :
The new restrictions on gold and other precious metal imports came into effect immediately from April 2nd, 2026.
The new policy affects various items under Chapter 71, including gold and silver articles, precious metal-clad items, industrial and laboratory goods made of precious metals, and non-legal tender coins.
Yes, 100% Export Oriented Units (EOUs) and units in Special Economic Zones (SEZs) are exempt, provided imported goods are not diverted to the Domestic Tariff Area (DTA). Imports under FTP 2023 schemes for gems and jewellery exports are also exempt.
No, there is no grandfathering or transitional relief allowed. The new rules apply immediately to all prior contracts, Letter of Credit (LC) arrangements, and shipments in transit.
Export-focused units within the gems and jewellery sector benefit from exemptions. However, domestic players may face tighter supply conditions due to the new restrictions.
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