India’s foreign trade regulator, the Directorate General of Foreign Trade (DGFT), has revised its import policy for precious metal alloys. The new norms restrict import of Palladium, Rhodium, and Iridium alloys if they contain more than 1% gold by weight. Let’s break this down for importers, jewellers, and compliance officers.
Why DGFT Restricted These Imports
The restriction is meant to:
- Prevent misuse of duty exemptions meant for gold.
- Tighten compliance under the Foreign Trade Policy 2023.
- Align with RBI and Customs rules on gold imports.
Reference: DGFT Notification No. 15/2025 dated 18 June 2025.
What the New Import Policy Says
Key points:
- Alloys of Palladium, Rhodium, Iridium with more than 1% gold are now under the ‘Restricted’ category.
- Importers must now get a DGFT import licence for these goods.
- Affected HS codes: HS CodeDescription7110Platinum, unwrought or in semi-manufactured forms7110 11 00Palladium, unwrought or semi-manufactured7110 21 00Rhodium, unwrought or semi-manufactured7110 31 00Iridium, unwrought or semi-manufactured
- Earlier, such alloys could be imported freely under ‘Free’ category.
Legal Reference: As per Section 5 of the Foreign Trade (Development and Regulation) Act, 1992.
How to Comply with New DGFT Import Rules
Step-by-step compliance:
- Check gold content: Ensure accurate assay of gold percentage in your alloy consignment.
- Apply for licence: If content exceeds 1% gold, apply on DGFT’s online portal.
- Customs declaration: Declare precise metal composition in the Bill of Entry.
- Consult your CHA: Keep your Customs House Agent informed to avoid clearance delays.
Expert Tip: Avoid Costly Penalties
As per trade experts, misdeclaration may attract:
- Penalty under Customs Act, 1962
- Licence suspension under Foreign Trade (Development and Regulation) Act
Always obtain a certified lab report on alloy composition before placing orders abroad.
Similar DGFT Actions
DGFT has previously:
- Restricted import of gold doré bars to check under-invoicing.
- Tightened norms for scrap metal containing precious metals.
📖 Read our related blog on Gold Import Duty & Customs Valuation.
FAQs on DGFT Import Policy for Precious Metal Alloys
Q1. Who needs to apply for a licence now?
Any importer of Palladium, Rhodium, or Iridium alloys with more than 1% gold.
Q2. What happens if I import without a licence?
Your goods can be confiscated, and you may face penalties.
Q3. Where can I check updated import policy notifications?
Always check the latest at DGFT Official Website.
Summary
DGFT has restricted import of Palladium, Rhodium, and Iridium alloys with over 1% gold content. Importers must now get a valid licence, declare exact gold percentage, and comply with Customs rules to avoid penalties.