India Restricts Imports of Low-Purity Platinum Alloys
India has imposed restrictions on the import of platinum alloys with purity below 99%, aiming to prevent unfair trade practices.
???? Key Changes
Platinum (unwrought, powder form, etc.) moved from "free" to "restricted" import category.
Platinum alloys of 99% or higher purity remain unrestricted.
???? Why the Restriction?
Allegations that platinum alloys were blended with gold to exploit tariff differences (2% benefit).
Concerns over duty-free platinum imports from UAE under the India-UAE CEPA trade agreement.
???? India-UAE Trade Concerns
In October 2023, India raised concerns over rising imports of silver, platinum alloys, and dry dates from UAE.
UAE agreed to examine compliance with trade rules to prevent misuse.
???? The move aims to protect domestic industries and prevent tariff loopholes.
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