Exports of gold idols allowed now, GoI amended trade policy

Exports of gold idols allowed now, GoI amended trade policy

Delhi: (PTI) The government has allowed export of gold idols of eight carats and up to 24 carats with certain conditions. Commerce ministry issued a notification on foreign trade policy.

However, these exports are allowed only from domestic tariff area.

export of gold idols

Foreign trade policy has been amended to allow export of gold idols (only gods and goddess) of 8 carats and above (up to 24 carats) from domestic tariff area. Directorate General of Foreign Trade (DGFT) has clarified by a notification.

The conditions for overseas shipments of the idols include 100% examination of these exports by the approved government valuer. Foreign remittance has to be realize within a period of three months from the date of exports, and mandatory submission of export of gold idols ordered by exporters.

Foreign trade policy amended

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Exporters would also have to make clear distinction between a religious idol and simply molded gold idol.
The exports would be allowed only by actual manufacturers of such idols.

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