India Clamps Down on Liquid Gold Imports
The Indian government has placed restrictions on the import of colloidal precious metals to curb illegal gold imports in liquid form. These metals, primarily from Thailand, include gold and silver nanoparticles. Import guidelines now categorize these items as restricted, affecting trade dynamics significantly.
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- India
The Indian government has tightened its grip on the import of certain colloidal precious metals, a move aimed at halting the illegal flow of gold into the country in liquid form.
Colloidal precious metals are essentially suspensions of gold and silver nanoparticles in a liquid medium. Industry experts have pointed out that this route was being exploited by some importers, particularly from nations such as Thailand.
In a recent notification, the Directorate General of Foreign Trade announced that the import policy for items listed under CTH 2843 has been changed from free to restricted, effective immediately. This includes goods such as colloidal precious metals and organic or inorganic compounds of precious metals. Another directive restricts the import of palladium, rhodium, and iridium alloys containing more than one percent gold by weight. Gold imports for April-May this fiscal year saw a decline of 3.82 percent, totaling USD 5.64 billion.
(With inputs from agencies.)
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