National News
CBIC Introduces Streamlined Procedure for Personal Carriage of Gems & Jewellery via Jaipur Airport and ACC
New digital process for imports and exports through personal carriage takes effect from July 14, 2025, easing travel for jewellers and exporters
The Central Board of Indirect Taxes and Customs (CBIC) has officially implemented a new procedure for the import and export of gems and jewellery through personal carriage at Jaipur’s Air Cargo Complex (ACC) and Jaipur International Airport. Effective from July 14, 2025, the initiative follows CBIC Circular No. 09/2025-Customs and aligns with advisories from the Directorate General of Systems to simplify and digitise high-value consignments carried by passengers.
Simplified Import Process
Under the revised system, individuals importing gems and jewellery through personal carriage must pre-file a Bill of Entry (BE) at ACC, Jaipur, using a new importer category labelled “H”. The BE must include detailed passenger and travel information such as e-ticket, PNR, flight and passport numbers, along with the Importer Exporter Code (IEC) and Authorised Dealer (AD) code.
Supporting documents—including a hand carriage authorisation letter (HAC001), detention receipt (HAC002), and product photographs—must be uploaded via the integrated customs portal. Re-imports must be accompanied by certification from the Gem & Jewellery Export Promotion Council (GJEPC).
On arrival, passengers must declare the goods at the Red Channel Counter at Jaipur International Airport. Customs will seal the consignment and issue a Detention Receipt, which will be used to initiate clearance at ACC. Goods submitted before noon will be processed the same day, wherever feasible.
Enhanced Export Procedure
Exporters can now electronically file Shipping Bills a minimum of 24 hours prior to departure. These must be clearly flagged for “Personal Carriage” and include specific passenger details. Coloured photographs of the goods are mandatory, and physical carting must be completed at ACC a working day before the flight.
Once customs examines the goods and grants the Let Export Order (LEO), consignments are sealed and moved to the airport warehouse for temporary detention. If the goods are not exported, exporters must notify customs and request a “Back to Town” (BTT) clearance, which involves a full examination and may result in penalties, depending on the case.
Why It Matters
This procedural overhaul aims to eliminate longstanding logistical challenges faced by jewellery exporters, designers, and traders who travel internationally with samples or inventory. The new system provides a transparent, digital framework to support smoother trade movements and improved compliance.
Implementation and Support
Any concerns regarding the new process can be addressed to the Additional Commissioner of Customs (Prev.), Jodhpur, stationed at the Jaipur headquarters. This latest directive overrides all previous inconsistent instructions.
National News
Outstanding gold-backed loans surge by 128% from a year earlier
India’s appetite for borrowing against gold is reshaping the country’s credit landscape. Outstanding gold-backed loans have surged 128% from a year earlier, crossing Rs.4 lakh crore ($48 billion) for the first time, according to data from the Reserve Bank of India. As of Jan. 31, loans secured by gold jewellery stood at Rs.4,00,517 crore, marking one of the fastest expansions in retail credit in recent years.
The boom in gold loans has helped propel overall non-food bank credit growth to 14.4% year-on-year. Personal loans now account for 34.5% of total bank lending, outpacing other segments and underscoring a broader shift toward consumer-driven credit expansion
Gold loans alone contributed roughly 9% of incremental bank credit during the period. Between January 2024 and January 2026, outstanding gold-backed credit rose by nearly Rs.3.1 lakh crore—an increase of about 338% over two years—more than quadrupling the size of the portfolio.
Two factors are driving the surge. First, gold prices have climbed roughly 152% over the past two years, increasing the collateral value of household holdings. Second, regulatory guidance requiring banks to classify loans secured by gold explicitly as gold loans has sharpened reporting and accelerated balance-sheet growth in the segment.
The trend highlights a distinctive feature of India’s financial system: households’ vast stock of physical gold, long viewed primarily as a store of wealth, is increasingly being mobilized as collateral for formal credit.
While personal lending and credit to nonbank financial companies within the services sector continue to expand rapidly, industrial credit remains uneven. Loans to micro, small and medium enterprises are growing steadily, but borrowing by large corporations has stayed relatively muted.
Since March 21, 2025, banks have added Rs.21.8 lakh crore to their non-food loan books, translating into 12% growth for the financial year to date. Yet it is gold—rather than factories or infrastructure—that is emerging as one of the most dynamic engines of India’s current credit cycle.
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