GOVERNMENT RESTRICTS GOLD JEWELRY IMPORTS DUE TO UNUSUAL SURGE
Why in the news?
- The Commerce and Industry Ministry restricted gold jewelry and parts imports with immediate effect.
- Imports from the UAE under the Free Trade Agreement (FTA) are exempted.
- Notification issued by the Directorate General of Foreign Trade (DGFT).
About Free trade agreements (FTAs):
- Free trade agreements (FTAs) reduce barriers to imports and exports.
- Opposite of trade protectionism or economic isolationism.
- Major Indian FTAs: India ASEAN, SAFTA, India Korea CEPA, Japan India CEPA, India Singapore CECA, Indo Malaysia CECA.
- Ongoing negotiations with the UK, Oman, Australia, Canada, Russia, UAE, EU, and Southern African Customs Union.
source:slideshare
About the Directorate General of Foreign Trade (DGFT):
|