- | 3:30 pm
India notifies 160 tons of gold imports from UAE under CEPA
The government notification allowing import of up to 160 tons of gold from the UAE under CEPA in FY25 is 20 tons more than last year
The government has notified that manufacturers and traders will be allowed to import up to 160 tons of gold at concessional rates from the UAE under a bilateral trade deal in the current fiscal, Press Trust of India reported, citing an unidentified government official.
The deal, dubbed the Comprehensive Economic Partnership Agreement (CEPA), came into force on 1 May 2022.
India had notified 140 tons of gold imports from UAE under CEPA in FY24.
Under CEPA, India has agreed to import up to 200 metric tons of gold annually from the UAE with a 1% tariff concession under the Tariff Rate Quota (TRQ).
Trade think tank Global Trade Research Initiative (GTRI) had in an earlier report sought a review of this agreement.
Government data showed that Indian gold imports from UAE rose 147.6% to $7.6 billion in FY2024 from $3 billion the previous year.
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