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

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Earning Money from Digital Twin Solutions for Predictive Maintenance ✌️【Investment Tools】✌️Earn massive monthly returns. Start investing with ₹500 today!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.

Earning Money from Digital Twin Solutions for Predictive Maintenance ✌️【Investment Tools】✌️Invest ₹500 today and get rewarded with up to 100% returns. Start now!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.

Earning Money from Digital Twin Solutions for Predictive Maintenance ✌️【Investment Tools】✌️Invest ₹500 and watch your wealth grow with cutting-edge investment strategies.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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Earning Money from Digital Twin Solutions for Predictive Maintenance ✌️【Investment Tools】✌️Start with ₹500 and get fast returns through secure and profitable investments.The government must address these concerns to ensure data integrity.India’s experience with the CEPA highlights the risks of duty concessions on gold, silver, and platinum in FTAs.

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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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