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India allows it banks to import UAE gold at lower duty
India has permitted banks in the country to import gold from the UAE at concessional duty in a significant policy tweak that is expected to provide a major boost to the local gold exporters. The liberalised norms for gold imports from the UAE, one of the world’s leading gold trading hubs, come under the trailblazing UAE-India Comprehensive Economic Partnership Agreement (Cepa) that came into effect in 2022. As per the new policy, both qualified jewellers and banks authorised by the Reserve Bank of India are permitted to avail of the 1.0 per cent duty advantage for gold imports within a specified annual quantity. ... (full story)