India curbs import of platinum jewellery

The Union government on Monday restricted import of unstudded articles of platinum jewellery until 30 April 2026, following the misuse of the zero percent import duty clause.

- Ram Sahgal

Until now, such articles, with 90% gold content, could be freely imported and some traders were importing these at zero duty from Indonesia under the India-Asean free trade agreement and converting them into gold bars, evading the 6% duty on gold imports, according to Surendra Mehta, n