Under the UAE CEPA, India will receive a 1% discount on gold imports.

Under the terms of their Comprehensive Economic Partnership Agreement (CEPA), which became effective on May 1 of last year, the two nations established a gold tariff quota clause.

India will be able to import gold from the UAE with a 1% reduced tariff thanks to a designated channel. This is permitted by the CEPA agreement that India and the UAE signed.

“Considering the strong trade partnership between India and the UAE as well as to uphold the spirit of the Trade Agreement [CEPA], the matter was considered by the government and the DOR (Department of Revenue) Notification dated 31.03.2023 was issued removing the Jewelery manufacturer criteria,” said Director General of Foreign Trade (DGFT) Santosh Sarangi.

According to India‘s updated, more straightforward eligibility criteria under the 2023 Foreign Trade Policy, which is expected to lessen the compliance cost for Indian importers, the gold tariff rate quota (TRQ) would be distributed to applicants.

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