New Delhi, May 20 -- The Directorate General of Foreign Trade (DGFT) has issued a new notification to streamline the import of precious metals, ensuring consistency between customs duties and import regulations.

According to the Global Trade Research Initiative (GTRI), the move will help plug loopholes that were previously misused by importers to bypass higher duties.

The DGFT Notification No. 08/2025, released on Monday updates India's Import Policy Schedule under the ITC (HS) 2022 classification. This aligns it with the changes introduced in the Union Budget 2025 to the Customs Tariff Schedule, particularly concerning precious metals like gold, silver, and platinum.

One of the major loopholes involved platinum alloys. As per internat...