Imports of certain precious metal waste and scrap, as well as metal clad with precious metal, have been prohibited by the government. Previously, their imports were free.
The Directorate General of Foreign Trade changed the import regulation for ash containing precious metals or precious metal compounds such as gold, platinum, and silver from “free” to “restricted,” implying that inbound shipments would require a licence.
“With immediate effect, import policy has been altered from ‘Free’ to ‘Restricted,'” the DGFT stated in a notification. India imported $36.6 million of these items in April-February FY22, compared to $72 million in the full 2020-21 fiscal year.
One Response
By Global treaties, India had been the largest waste dumping ground since years with poverty and re use as it’s paradigm, but for how is being costed for its Entry and our benefit and liability was never accounted for, the typical Charter accountacy on only Mercantile basis was a wrong Paradigm rather it’s Counterpart of ICWA lost its real relevance now shoud regain its position with proper concept, our Revenue services must redeem its status now.