India restricts imports of unstudded platinum jewellery

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.

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The India Bullion and Jewellers Association (IBJA) has urged the government to restrict imports of platinum jewellery in order to close this policy loophole.