The government has banned exports of gold jewellery, medallions and other articles with purity above 22 carats in a bid to check round tripping of the precious metal.
In a notification on the metal, the Directorate General of Foreign Trade (DGFT), has said that certain provisions of the foreign trade policy (2015-20) are “amended to allow export of gold jewellery (plain or studded) and articles containing gold of 8 carats and above up to a maximum limit of 22 carats only from domestic tariff area and export-oriented units, electronics hardware technology parks, software technology parks and bio technology parks”.
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