FOREIGN TRADE POLICY

Chapter 4: Duty Exemption / Remission schemes

Nominated Agencies For Procurement By Gem And Jewellery Sector

 MMTC Ltd., The State Trading Corporation of India Ltd., PEC Ltd and STCL Ltd are removed from the list of nominated agencies for procurement.

 Provision relating to import of gold by Four Star and Five Star Houses with Nominated Agency Certificate, notwithstanding any provision relating to import of gold by Nominated Agencies under Foreign Trade Policy (2015-2020), subject to actual user condition and permitted to import gold as input only for the purpose of manufacture and export by themselves during the remaining validity period of the Nominated Agency certificate, has been removed.

 The procedure for import of precious metals by the Gems & Jewellery units operating under EOU & SEZ schemes will be as per the applicable schemes.