loader image
Connect with us

National News

DGFT notifies revised HS codes for precious metal imports

Published

on

568 views

The Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry, has updated the rules for importing gold, silver, and platinum following announcements made in this year’s Union Budget. The new rules are effective from 1 May 2025, and include revised HS codes for precious metals and clarify who can import them. A similar notification has already been issued by the Central Board of Indirect Taxes and Customs (CBIC).

For gold (including gold plated with platinum)—unwrought or in semi-manufactured forms, with 99.5% or higher purity—imports are restricted to:

Nominated agencies notified by the RBI (for banks) or DGFT (for other agencies),

Qualified Jewellers (as notified by IFSCA) through the India International Bullion Exchange (IIBX),

Valid India-UAE TRQ holders (as notified by IFSCA) importing via IIBX, with physical delivery through IFSCA-registered vaults in SEZs.

Additionally, gold dore imports are allowed for licensed refineries under the Actual User (AU) condition.

Silver and platinum imports have also been aligned with purity-specific conditions, with imports either permitted freely or routed through authorised agencies.

Continue Reading
Advertisement
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

National News

Shree Ramkrishna Exports Launches “Kriam Pharma”

Kriam Pharma to Target Key Therapeutic Segments with Direct-to-Chemist Model; Backed by Gates Foundation for South Africa Supply, Aims Pan-India Reach by 2030 and Over 3,500 Jobs

Published

on

2,381 views

Shree Ramkrishna Exports (SRK), a leader in the natural diamond industry,has forayed into healthcare with the launch of “Kriam Pharma.” The inauguration ceremony, held in Surat under the theme “Aarogyam: A New Flight towards Health & Healing”, marked the official unveiling of this new venture.

The launch event was graced by dignitaries including Surat Mayor Daksheshbhai Mavani, SRK Founder & Chairman Govindbhai Dholakia, Dr Vijay Agarwal, President, Consortium of Accredited Healthcare Organizations (CAHO), Dr Giridhar Gyani, Director General, Association of Healthcare Providers of India (AHPI), Mathurbhai Savani, Chairman of Kiran Hospital, Arnav Kapoor, Deputy Director of Bill & Melinda Gates Foundation, Padma Shri Savjibhai Dholakia of Hari Krishna Exports and several leaders from the healthcare ecosystem.

Speaking on the occasion, Tej Dholakia, Founder of Kriam Pharma said, “Healthcare is a necessity for everyone, yet access to quality medicines at affordable prices remains a challenge. With Kriam Pharma, we aim to bridge this gap by delivering high-quality medicines while building trust between providers and patients. This is not merely a business journey, but a journey of service. We will ensure quality medicines at fair prices, initially reaching 20,000 towns and villages.”

Kriam Pharma will focus on categories such as anti-diabetic, cardiac care, gastrointestinal, pain management, dermatology, vitamins and minerals and anti-infectives, covering both immediate and long-term healthcare needs. In a highly fragmented market, the company will deliver reliability, while adhering to the highest ethical standards.

Mayor Daksheshbhai Mavani congratulated SRK on the new venture and expressed hope that with support from the Bill & Melinda Gates Foundation, Kriam Pharma would supply its medicines even to South Africa. He said, “The company would initially focus on Gujarat and Maharashtra, adopting a direct-to-chemist distribution model for efficiency and trust.”

CAHO President Dr. Vijay Agarwal said,Even though remarkable progress has been made in medicine over the last 100 years, trust deficit remains. He stressed the importance of accessible and affordable care and wished success to Kriam Pharma in bridging gaps with quality medicines.”

Kriam Pharma aims to supply medicines across every city, town and village in India by 2030, while creating more than 3,500 direct and indirect jobs. The company is also exploring exports to emerging markets with high demand for dependable and high-quality medicines.

AHPI Director General Dr. Giridhar Gyani said, “30% of the hospital expenditure is on medicines, which highlights the need for affordable, accessible and quality medicines.”

Kriam Pharma is currently sourcing its products from leading Contract Development and Manufacturing Organizations (CDMOs) and plans to set up in-house manufacturing in the second phase.

Reaffirming the company’s mission, Tej Dholakia added, “Our mission is rooted in a simple belief that medicine is not a privilege, it is a basic right. Every product, every partnership and every decision we make reflects our commitment to quality and integrity.”

Shreyans Dholakia, Brand Custodian of SRK Exports said, “With 60 years of excellence in natural diamonds, we are now committed to serving the nation in healthcare. Healthcare is a key focus area of the country.”

Govindbhai Dholakia, Founder- Chairman Emeritus of SRK Group said, “A company may be precious, but it must also be valuable. With Kriam Pharma, let us ensure that we uphold values alongside value, making this venture truly meaningful.”

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x