Amendment in Import Policy for Platinum Articles under ITC HS Code 71141920

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Dated: 10.02.2026

Amendment in Import Policy for Platinum Articles under ITC HS Code 71141920

The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce & Industry, Government of India, has issued Notification No. 58/2025-26 dated February 5, 2026, announcing a significant amendment to the import policy for items classified under ITC HS Code 71141920. This notification revises the import policy for platinum articles from “Free” to “Restricted,” effective immediately. Below, we provide a detailed overview of the changes and their implications.

Key Highlights of the Notification

Revised Import Policy:
- The import policy for items under ITC HS Code 71141920, which pertains to “Articles of platinum,” has been changed from “Free” to “Restricted.”
- This change means that importers will now require specific authorization or approval from the DGFT to import platinum articles into India.
Policy Condition No. 6 Introduced:
- While the import of platinum articles is now classified as “Restricted,” certain categories of imports remain “Free.” These include:
  - Re-import of Indian origin goods that were sent abroad for exhibitions or export promotion tours.
  - Re-import of Indian origin goods that were rejected, returned, or remained unsold.
  - Re-import of Indian origin goods intended for repair.
Legal Framework:
- The amendment has been made under the powers conferred by Section 3 and Section 5 of the Foreign Trade (Development & Regulation) Act, 1992, in conjunction with paragraphs 1.02 and 2.01 of the Foreign Trade Policy, 2023.

Implications of the Amendment

For Importers:

The shift from “Free” to “Restricted” import policy means that businesses dealing in platinum articles will now need to obtain prior approval from the DGFT before importing these items. This change is likely to impact the ease of doing business for importers, as they will need to navigate additional regulatory requirements.

For the Platinum Industry:

The amendment may have a significant impact on the platinum industry in India. By restricting imports, the government may be aiming to regulate the inflow of platinum articles, potentially to protect domestic manufacturers or address concerns related to trade imbalances.

For Exporters:

The notification provides relief to exporters by allowing the re-import of Indian-origin platinum articles under specific conditions. This ensures that goods sent abroad for exhibitions, export promotion tours, or repair can be brought back without additional restrictions.

Understanding ITC HS Code 71141920 

The ITC HS Code 71141920 specifically covers “Articles of platinum.” Platinum is a precious metal widely used in jewelry, industrial applications, and investment products. The revised import policy under this code reflects the government’s intent to regulate the trade of platinum articles more closely.

Conclusion

The amendment to the import policy for platinum articles under ITC HS Code 71141920 marks a significant shift in India’s trade regulations. While the policy change introduces restrictions, it also provides exemptions for specific categories of re-imports, ensuring that exporters are not adversely affected. Businesses involved in the import of platinum articles must now comply with the new requirements and seek necessary approvals from the DGFT.

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Source: DGFT

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