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Classification rules allow platinum alloys with up to 98% gold to be labeled as platinum alloy.

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AOG smartofgiving in India ✌️【Part-Time Earnings】✌️Start with ₹500 and enjoy up to 100% returns monthly. Make your money work for you!These imports surged from $8.9 million to $1.6 billion during January-September 2024, a massive 17,994% increase compared to the same period last year.Similarly, gold compounds from Japan, allowed duty-free under the India-Japan free trade agreement (FTA), totalled $621.7 million during this period, with the gold extracted and sold domestically.

AOG smartofgiving in India ✌️【Part-Time Earnings】✌️Start with ₹500 and earn reliable, high returns each and every month!Another route is gold and silver jewellery imports from Indonesia, which reached $905.2 million under the ASEAN-India FTA, benefiting from tariff-free access.The ReserveBank of Indiaimports a large amount of gold regularly, however, such imports are under capital account and not included in commercial import data.

AOG smartofgiving in India ✌️【Part-Time Earnings】✌️₹500 is your key to high monthly profits. Invest now for big returns!These alternative channels significantly inflate actual gold imports beyond official figures.There is speculation that some gold imported by an SEZ may have been double-counted, potentially explaining the surge in import figures.

However, only gold entering through a bill of entry filed at Customs is considered an import.

Movements within the country, such as for use in SEZs, EOUs, or Gift City, or subsequent domestic sales, don’t qualify as imports and should not be included in import data.

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India should not offer any tariff cuts on precious metals under FTAs.Disclaimer: Views expressed are personal and do not reflect the official position or policy ofFinancialExpress.com.

Reproducing this content without permission is prohibited.Micromax and Phison have formed a joint venture, MiPhi, to produce storage chips in India.

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