Amendments in Import Policy for Items Under Chapter 71

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Dated: 03.04.2026

Amendments in Import Policy for Items Under Chapter 71

The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce & Industry, Government of India, has issued Notification No. 03/2026-27 dated April 2, 2026, announcing significant amendments to the import policy and policy conditions for items covered under Chapter 71 of ITC (HS) 2022, Schedule-I (Import Policy). These changes, which are effective immediately, aim to regulate the import of precious metals and related items, ensuring compliance with the Foreign Trade Policy (FTP) 2023.

Key Highlights of the Notification 

Immediate Implementation of Restrictions:
- The revised import policy and conditions come into force immediately, overriding any prior contracts, irrevocable letters of credit, advance payments, shipment statuses, or other commitments.
- The transitional arrangements under Para 1.05(b) of FTP 2023 will not apply to these restrictions.
Introduction of Policy Condition No. 7:
- Imports by 100% Export Oriented Units (EOUs) and units located in Special Economic Zones (SEZs) are exempt from the restrictions, provided the imported goods are not sold in the Domestic Tariff Area (DTAs).
- Imports under schemes for the export of Gems and Jewellery under Chapter-4 of FTP 2023 are also exempt from these restrictions.
Revised Import Policy for Specific Items:
- The notification introduces changes to the import policy for several items under Chapter 71. Below are the key amendments:

Platinum and Precious Metal Items 

Platinum Alloy with Gold Content:
- Import of platinum alloy containing more than 1% gold by weight is now classified as “Restricted.”
- This applies to items under ITC (HS) codes 71101129 and 71101990.
Base Metals, Silver, or Gold Clad with Platinum:
- Items under ITC (HS) code 71110000 are now “Free” for import, except when the silver or gold content exceeds 1% by weight, in which case they are “Restricted.”

Articles of Goldsmiths or Silversmiths Wares 

Articles of Silver:
- Articles under ITC (HS) code 71141110 are “Free” for import but “Restricted” for export, subject to Policy Condition No. 7.
Parts of Precious Metal Articles:
- Items under ITC (HS) code 71141120 are “Free” for import but “Restricted” for export, subject to Policy Condition No. 7.

Articles of Other Precious Metals 

Articles of Gold and Platinum:
- Articles of gold (ITC HS code 71141910) and platinum (ITC HS code 71141920) are now “Restricted” for both import and export, subject to Policy Condition No. 7.
Parts of Precious Metal Articles:
- Parts under ITC (HS) code 71141930 are “Free” for import but “Restricted” for export, subject to Policy Condition No. 7.

Base Metals Clad with Precious Metals 

Articles Clad with Gold:
- Items under ITC (HS) code 71142010 are “Free” for import but “Restricted” for export, subject to Policy Condition No. 7.
Other Articles and Parts:
- Other articles (ITC HS code 71142020) and parts (ITC HS code 71142030) are “Free” for import but “Restricted” for export, subject to Policy Condition No. 7.

Other Articles of Precious Metal 

Catalysts in the Form of Wire Cloth or Grill of Platinum:
- Items under ITC HS code 71151000 are “Free” for import but “Restricted” for export, subject to Policy Condition No. 7.
Laboratory and Industrial Articles of Precious Metals:
- Items under ITC HS code 71159010 are “Free” for import but “Restricted” for export, subject to Policy Condition No. 7.
Spinnerets Made Mainly of Gold:
- Items under ITC HS code 71159020 are “Free” for import but “Restricted” for export, subject to Policy Condition No. 7.
Other Articles:
- Items under ITC HS code 71159090 are “Free” for import but “Restricted” for export, subject to Policy Condition No. 7.

Coins

Coins (Other than Gold Coins) Not Being Legal Tender:
- Items under ITC HS code 71181000 are “Free” for import but “Restricted” for export, subject to Policy Condition No. 7.

Implications of the Notification 

Impact on Importers and Exporters:
- Businesses dealing with precious metals and related items must comply with the revised import policy and conditions.
- Importers and exporters should review their contracts and ensure adherence to the new restrictions, as transitional arrangements are not applicable.
Exemptions for SEZs and EOUs:
- Units located in SEZs and 100% EOUs can continue importing restricted items without being subject to the new rules, provided the goods are not sold in DTAs.
Focus on Gems and Jewellery Export:
- Imports under schemes for the export of Gems and Jewellery are exempt from restrictions, promoting the growth of this sector.
Compliance with Policy Conditions:
- Importers must ensure compliance with Policy Condition No. 7, which governs the import and export of restricted items under Chapter 71.

Conclusion

The amendments to the import policy under Chapter 71 of ITC (HS) 2022 reflect the government’s intent to regulate the trade of precious metals and related items while promoting exports through SEZs and EOUs. Businesses must carefully review the updated policy and conditions to ensure compliance and avoid disruptions in their operations. For further details, stakeholders can contact the Directorate General of Foreign Trade (DGFT) or refer to the official notification issued by the Ministry of Commerce & Industry.

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Source: DGFT

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