“Import policy of gold dore is restricted,” the directorate general of foreign trade (DGFT) said in a notification. This means, now, an importer needs a license to import this commodity. Gold dore is a semi-pure alloy which is refined for further purification. Refined gold bars are manufactured from gold dore bar. India, the world’s second-biggest gold consumer after China, imports about 900 tonnes of gold a year. In value terms, gold imports fell by about 43 per cent to $1.68 billion in October. The imports mainly take care of demand of the jewellery industry.
English News August 19
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