AIJGF Commends PM Modi for Enhancing Fairness in Bullion Trade
The All India Jewellers & Goldsmith Federation (AIJGF) extends its heartfelt appreciation to Prime Minister Narendra Modi and his administration for their prompt action in enhancing transparency and fairness within the bullion market. The recent government notification, issued on March 5, 2025, addresses previous malpractices by revising import policies for platinum.
Government Revises Import Policies for Platinum
The Directorate General of Foreign Trade (DGFT) has amended the import policy for specific platinum products under HS Code 7110, shifting them from “Free” to “Restricted” status. Notably, platinum alloys with a purity of 99% or higher remain free from restrictions.
AIJGF’s Advocacy Leads to Policy Change
AIJGF’s persistent advocacy, including a critical letter to the Commerce Minister, has culminated in these essential policy changes. The federation has also called for a forensic audit of firms involved in platinum imports to ensure adherence to the new regulations and uphold trade integrity.
AIJGF Leadership Expresses Gratitude
General Secretary Nitin Kedia expressed gratitude for the government’s responsiveness, stating, “We are immensely thankful to Prime Minister Modi for his resolute commitment to fair trade. His leadership has been crucial in rectifying these urgent issues that directly impact our members.”
National President Highlights Government’s Commitment
National President Pankaj Arora echoed this sentiment, praising the government’s efforts: “The recent circular is a testament to the government’s resolve to stop misuse in the trade system. We are profoundly grateful to Prime Minister Modi for his unwavering dedication to protecting our industry.”
AIJGF’s Continued Commitment to Fair Trade
The AIJGF remains steadfast in advocating for policies that ensure fair competition and transparency, supporting the growth and prosperity of its members and the industry at large.
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