Who can import Gold in India?







  Currently, DGFT has permitted the following entities to import gold bars into India.
  1. Metals and Minerals Trading Corporation Limited (MMTC);
  2. Handicraft and Handloom Export Corporation (HHEC);
  3. State Trading Corporation (STC);
  4. Project and Equipment Corporation of India Limited. (PEC);
  5. STCL Limited;
  6. MSTC Limited;
  7. Diamond India Limited (DIL);
  8. Gems & Jewellery Export Promotion Council (G&J EPC);
  9. Star Trading House (only for Gems & Jewellery sector) or a Premier Trading House;
  10. Any other agency authorized by Reserve Bank of India (RBI)

The following conditions are applicable for all entities to import gold bars into India:
  • The import of gold in the form of coins and medallions is prohibited.
  • Entities/units in the SEZ and EOUs, Premier and Star Trading Houses would be permitted to import gold exclusively for the purpose of exports. These entities will not be permitted to clear imported gold for any purpose other than for exports.
  • Gold imported against any authorization such as Advance Authorization/Duty-Free Import Authorization (DFIA) should be utilized for export purposes only and there can be no diversion for domestic use.
  • All gold imports must be routed through customs bonded warehouses;
  • The import of gold dore bars will be permitted only against a license issued by the Directorate General of Foreign Trade;
  • Entities or units in the SEZ and EOUs, Premier and Star Trading Houses would be permitted to procure gold from the refinery of the license holder exclusively for the purpose of exports only and these entities would not be permitted to clear such gold for any purpose other than for exports.
  • For each consignment of gold dore bars imported, the license holder must submit a report on the utilization of gold dore bars, gold produced after refining, gold issued to exporters and the proof of export for the goods manufactured and exported by these exporters to the central excise officer.