DGFT Tightens Import Policy for Unstudded Platinum from ‘Free’ to ‘Restricted’: Check Applicable Validity [Read Notification]

The Directorate General of Foreign Trade (DGFT) has notified a significant amendment to the import policy of unstudded platinum articles revising the import policy from “Free” to “Restricted”, meaning consignments of such platinum articles will require special authorisation from DGFT before being imported.

The changes have been effectuated to Unstudded Platinum covered under ITC (HS) Code 71131921, classified in Chapter 71 of the ITC (HS) 2022 Schedule.

ITC (HS) Code	Item Description	Existing Import Policy	Revised Import Policy
7113	Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal	—	—
711319	- Of precious metal whether or not plated or clad with precious metal: — Of other precious metal	—	—
71131921	— Of platinum: Unstudded	Free	Restricted

The policy tightening comes amid growing concerns that certain bullion dealers and traders were misusing India’s Free Trade Agreements (FTAs), particularly with ASEAN nations such as Thailand and Indonesia to import platinum-alloy jewellery, without payment of duty, under the in the guise of unstudded platinum items.

Authorities had identified several such consignments to contain nearly 90% gold, with small proportions of platinum and silver that were reportedly being imported at zero duty. The contents were then melted domestically, and converted into gold or platinum bars, resulting in significant duty evasion and consequent revenue loss to the exchequer.

Industry bodies, including the India Bullion and Jewellers Association (IBJA) had flagged this loophole and urged the government to restrict such imports after noticing rising volumes of unstudded articles arriving at key airports such as Amritsar and Delhi.

Earlier Policy Changes in Jewellery Import

The latest changes are similar to restrictions introduced earlier, by which unstudded silver jewellery were shifted from the ‘Free’ to ‘Restricted’ category to address misuse of import benefits under FTAs.

With unstudded platinum articles now requiring prior DGFT authorisation, the tightened regime is expected to impact bullion traders and jewellery importers who previously relied on duty-free routes. The government has indicated that such targeted restrictions are part of a broader effort to prevent revenue leakage until more safeguards under FTA frameworks are deployed.

The revised import policy takes effect immediately and will remain in force until 30 April 2026. During this period, all imports of unstudded platinum articles under ITC (HS) Code 71131921 will require prior authorisation from the DGFT, and traders are advised to ensure full compliance with the amendments.

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