MUMBAI: India has restricted imports of unstudded platinum jewellery with immediate effect, the government said in a notification on Monday.
Bullion dealers have been importing platinum-alloy jewellery duty-free, even though the items contain about 90% gold along with small amounts of silver and platinum.
The India Bullion and Jewellers Association (IBJA) has urged the government to restrict imports of platinum jewellery in order to close this policy loophole.
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