Wed Mar 05 05:32:06 UTC 2025: ## India Restricts Platinum Alloy Imports to Curb Smuggling
**New Delhi, March 5, 2025** – The Indian government announced new import restrictions on platinum alloys containing less than 99% pure platinum to combat smuggling. Importers of these alloys will now require authorization from the Directorate General of Foreign Trade (DGFT). The move follows concerns that alloys blended with significant amounts of gold were being imported to exploit tariff differences between the two metals. High-purity platinum alloys (99% or more) will remain unrestricted to ensure sufficient supply for jewelry and industrial use. The decision comes after a 2024 report from the GTRI economic think tank highlighted potential loopholes in the India-UAE trade agreement, which allows zero tariffs on gold, silver, platinum, and diamonds from the UAE. Concerns were also raised last October regarding a surge in imports of silver, platinum alloys, and dates from the UAE, prompting an investigation into potential circumvention of free trade agreement rules.
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