DGFT notifies Free Imports of Palladium, Rhodium, Iridium Alloys Subject to Conditions

The Directorate General of Foreign Trade (DGFT) has issued a notification amending the import policy for certain precious metal alloys. Under the new policy, the import of alloys containing palladium, rhodium, or iridium has been moved from the "Restricted" to the "Free" category. This liberalization, however, is subject to a specific condition: the London Bullion Market Association (LBMA) must have accredited the refinery that produced the goods. This means that importers can now bring in these specific alloys without needing a special license or permission, provided they are sourced from an LBMA-approved refinery. This move is aimed at streamlining the import process for these crucial industrial metals, which are used in various sectors, including automotive and electronics, while also ensuring that the imported goods meet internationally recognized quality and purity standards, thereby preventing the influx of substandard materials.