Govt restricts import of alloys, chemical compounds containing gold to curb misuse

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The government has imposed import curbs on certain colloidal precious metals, with an aim to check the illegal inflow of gold into India in liquid form. Besides, it has also restricted the import of palladium, rhodium and iridium alloy consisting more than one percent gold by weight.

According to industry experts, some importers were using this route for imports from countries like Thailand. "The import policy of items covered under CTH 2843 is revised from free to restricted with immediate effect," the directorate general of foreign trade (DGFT) said in a notification.

Colloidal precious metals are suspensions of gold or silver nanoparticles dispersed in a liquid. Goods under this number include colloidal precious metals; inorganic or organic compounds of precious metals.

"At the same time, the policy facilitates trade by allowing free import of alloys containing less than 1% gold, thereby ensuring continued availability of inputs for industrial and manufacturing sectors, including electronics, auto components, and specialised chemical industries, without disruption. This calibrated approach balances trade facilitation with the need for regulatory oversight," the DGFT said in a statement.

The import will be allowed for industrial and manufacturing sectors, including electronics, electrical and specialised chemical industry, against an import authorization, thereby addressing the need of the domestic industry without disruption for actual use.

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