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DGFT notifies revised HS codes for precious metal imports

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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.

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Mahesh Notandass and Vandals Partner with Rohit Gandhi + Rahul Khanna for Noir Botanica

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Mahesh Notandass and Vandals served as the official jewellery partners for designer duo Rohit Gandhi + Rahul Khanna’s Noir Botanica presentation, held at Galeries Lafayette Mumbai on August 20.

Jewellery from both houses was worn by Rohit Gandhi and Rahul Khanna, as well as models walking the presentation, complementing the collection’s sculptural silhouettes, metallic surfaces and architectural detailing.

Rather than a conventional runway, the evening was conceived as an immersive fashion experience. Galeries Lafayette Mumbai was transformed into an intimate setting inspired by jazz and the glamour of 1930s evening culture, allowing guests to experience the craftsmanship, textures and construction of the garments up close. Actor Vijay Varma closed the presentation, adding a striking finale to the evening.

The event drew a notable gathering of celebrities and fashion personalities, including Kajol, Babil Khan, Mahima Makwana, Pragya Jaiswal, Gurfateh Pirzada, Sophie Choudhry, Sarah-Jane Dias, Shalini Passi, Zayed Khan and Ruhee Dosani, among others.

Vandana M. Jagwani, Creative Director at Mahesh Notandass and Founder of Vandals, graced the occasion, marking the coming together of the two jewellery houses with Rohit Gandhi + Rahul Khanna for the Noir Botanica presentation.

The collaboration highlights the growing intersection of fine jewellery and contemporary fashion, with Mahesh Notandass and Vandals bringing their distinct jewellery aesthetics to a collection centred on strong silhouettes, craftsmanship, texture and modern evening dressing.

The Noir Botanica capsule will be available following the presentation at Rohit Gandhi + Rahul Khanna stores and Galeries Lafayette Mumbai.

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