New Delhi: The central government has imposed restrictions on the import of certain gold-studded jewellery and articles. The government though did not give any reasons behind such move. Shipments those are coming into the country under the India-UAE Comprehensive Economic Partnership Agreement (CEPA), however, remain unrestricted, an official notification from the Directorate General of Foreign Trade (DGFT), dated June 11, said.
"However import under a valid INDIA-UAE CEPA TRQ shall be permitted without restricted import authorization," DGFT notification read. The notification to amend imports of these items from being free to now restricted will be with immediate effect. (Also Read: Zerodha Investors Made Rs. 50,000 Crore Profit In Four Years, Announces CEO Nithin Kamath)
In July last year, DGFT amended the import policy for unstudded jewellery, and other articles made of gold to the "restricted" category from earlier "free". Putting a commodity in the "restricted" category essentially means that a proper license will be required from the relevant authorities to import. (Also Read: Aadhaar-Ration Card Linking Date Extended By 3 More Months; Check New Deadline)
