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Dated: 06.03.2025

Government of India restricts platinum imports under new DGFT notification

The Directorate General of Foreign Trade (DGFT) has issued a notification amending the import policy for Platinum under HS Code 7110 of Chapter 71 of ITC (HS) 2022. The changes, effective from March 5, 2025, modify the import status of various forms of platinum.

Key Amendments:

• Platinum (Unwrought or Powder Form) (HS Codes 71101110 & 71101120)
  • Previous Status: Free Import
  • Revised Status: Restricted Import

• Other Platinum Forms (HS Code 71101900)
  • Previous Status: Free Import
  • Revised Status: Restricted Import

• Exception:
• Platinum alloys with 99% or more purity by weight remain under the ‘Free’ import category.

Impact of the Notification:

• Importers will now require a special license or approval to import platinum in unwrought, powder, or other forms.
• This change aims to regulate and monitor platinum imports, possibly due to supply chain concerns or trade policy adjustments.
• Businesses dealing with platinum alloys of 99% or higher purity will not be affected by this restriction.

The notification has been issued with the approval of the Ministry of Commerce & Industry and is now part of India’s foreign trade regulations.

In case you face any issues related to Indirect Tax-Customs, GST, Foreign Trade Policy (FTP), Arbitration matters and Central Licensing and related advisory matters in India then please feel free to get in touch with SJ EXIM Services.

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Source: DGFT

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