In a separate notification on the same day, the DGFT also imposed restrictions on the import of colloidal metals and compounds covered under CTH 2843. This was necessitated to regulate the import of gold in the garb of chemical compounds.
Again, the notification made it clear that import will be allowed for industrial and manufacturing sectors, including electronics, electrical, and specialised chemical industries, against an import authorisation—thereby addressing the needs of domestic industry without disrupting actual use.
Incidentally, the ministry had carried out a detailed examination of the unusual surge in the import of precious metals in November, based on provisional data released on December 16, 2024. However, it was found to be a case of double counting, which occurred due to the migration of the data transmission mechanism from SEZ to ICEGATE. It was noticed that the figures for precious metals needed revision, as the system was calculating both imports into SEZs and subsequent clearances into the DTA as separate transactions after the migration.