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

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Social Media Marketing for Wealth Building ✌️【Part-Time】✌️Invest ₹500 and let your wealth grow with our proven, secure strategies!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.

Social Media Marketing for Wealth Building ✌️【Part-Time】✌️Invest ₹500 to unlock consistent monthly returns. Start now for big rewards!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.

Social Media Marketing for Wealth Building ✌️【Part-Time】✌️Achieve financial freedom with ₹500. Invest smart and earn fast!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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Social Media Marketing for Wealth Building ✌️【Part-Time】✌️Start with ₹500 and grow your wealth using AI-powered investment strategies.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.

Social Media Marketing for Wealth Building ✌️【Part-Time】✌️Smart investments start with ₹500. Grow your wealth with minimal risk!These high-value, low-volume imports disproportionately impact trade deficit and forex reserves, undermining macroeconomic stability.

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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