National News
DGFT tightens gold export rules to plug loopholes in duty-free imports
In a decisive regulatory move aimed at tightening oversight on India’s gold trade, the government has amended export compliance norms for jewellery manufacturers under the Advance Authorization Scheme, closing long-standing loopholes that allowed misuse of duty-free imports. The latest amendment, issued by the Directorate General of Foreign Trade (DGFT), seeks to ensure that gold imported duty-free is genuinely used for export production and not diverted into the domestic market.
A Closer Look at the New Rules
Under the revised guidelines, exporters will now be required to fulfil their export obligations within 120 days from the date of import of each consignment. This new, uniform timeline replaces the earlier flexible window that often led to advance stocking and delayed exports.
Crucially, the DGFT has also made it clear that no extensions will be granted beyond this 120-day period, bringing stricter accountability to the system. This effectively aligns the policy with the Foreign Trade Policy (FTP) 2023, which emphasizes streamlined trade procedures, better monitoring mechanisms, and transparent compliance.
The intent is clear — to ensure that the scheme’s benefits are reserved for genuine exporters and to curb speculative imports that distort trade figures and impact the current account deficit.
Why the Move Matters
The decision comes against the backdrop of an alarming rise in gold imports. In September 2025, India’s gold imports nearly doubled to $9.6 billion, up from $4.6 billion in August, driven by festive demand, rising consumer appetite, and speculative buying amid global price volatility.
This surge contributed significantly to the widening of India’s trade deficit, which ballooned to a 13-month high of $32.15 billion. With gold consistently ranking among India’s top import commodities — alongside crude oil and electronics — unchecked inflows have long been a source of concern for policymakers.
By tightening deadlines and plugging procedural gaps, the government aims to deter misuse of the advance authorization scheme, which permits import of raw materials, including gold, without payment of customs duty for manufacturing export products.
Industry Implications
The jewellery industry — which exports nearly $30 billion worth of gold and diamond jewellery annually — will now need to recalibrate its operational timelines and supply chain planning. The 120-day cap compels exporters to adopt a “just-in-time” approach, minimizing idle gold inventory and ensuring faster production cycles.
National News
MMTC-PAMP Appoints Sidharth Malhotra As Brand Ambassador
As Part Of The Association, Sidharth Will Lead MMTC-PAMP’s New Integrated Campaign, ‘Purest And More,’ Showcasing The Brand’s Expanding Portfolio Across Physical Precious Metals, Digital Investments and Responsible Gold Recycling.
MMTC-PAMP, India’s only London Bullion Market Association (LBMA)-accredited Good Delivery Gold & Silver refiner, today announced acclaimed actor Sidharth Malhotra as its Brand Ambassador, marking a significant milestone in the brand’s journey to strengthen its connection with a new generation of consumers. As part of the association, Sidharth will lead MMTC-PAMP’s new integrated campaign, ‘Purest And More,’ showcasing the brand’s expanding portfolio across physical precious metals, digital investments and responsible gold recycling.
The integrated campaign showcases MMTC-PAMP’s complete ecosystem, from 24K 999.9+ purest gold and silver coins and bars to digital gold and silver, gold recycling, online purchasing and assured buyback services. Through relatable, everyday moments and festive celebrations, the campaign reinforces MMTC-PAMP’s position as India’s most trusted precious metals brand while making gold ownership more relevant, accessible and convenient for today’s consumers.
Announcing the association, Samit Guha, Managing Director and CEO, MMTC-PAMP said:
“We are delighted to welcome Sidharth Malhotra to the MMTC-PAMP family. Sidharth has built a strong reputation through authenticity, credibility and a modern outlook—qualities that closely reflect the values of our brand. As one of India’s most admired and influential actors, he enjoys a deep connect across generations, making him an ideal ambassador as we continue expanding the reach of MMTC PAMP among both seasoned investors and first-time buyers.
This partnership comes at an exciting phase in our growth as we continue to redefine precious metals ownership through innovation, responsible sourcing and world-class quality. Through our ‘Purest And More’ campaign, we are showcasing how MMTC-PAMP today offers far more than physical gold—from digital investments and online buying to gold recycling and assured buyback—while remaining uncompromising on purity and trust.”
The campaign film unfolds through a series of relatable family moments around a wedding celebration, with Sidharth naturally introducing consumers to MMTC-PAMP’s diverse offerings. The storytelling highlights that every MMTC-PAMP offering is backed by the brand’s commitment to purity, trust and convenience while reinforcing its promise of “Purest And More.”
Speaking on the association, Sidharth Malhotra said:
“MMTC-PAMP has built a remarkable reputation for purity, trust and innovation, while also modernising the way people invest in and experience precious metals. Whether it’s celebrating life’s milestones, building long-term wealth or embracing more responsible choices through recycled gold, the brand continues to stay relevant for today’s consumers. I’m excited to be part of this journey and look forward to connecting with people through the ‘Purest And More’ campaign.”
The association brings together one of India’s most recognised actors with one of the country’s most trusted precious metals brands at a time when consumer interest in certified physical gold, digital gold and sustainable precious metals solutions continues to grow. With Sidharth Malhotra as the face of the brand, MMTC-PAMP aims to further strengthen its leadership position while deepening engagement with a younger, digitally connected audience.
The campaign will be amplified across television, digital platforms, social media, print, retail stores and e-commerce channels, with dedicated creatives highlighting key offerings including digital gold and silver, festive gifting, Virasat recycled gold, Akshaya Tritiya, Diwali and MMTC-PAMP’s certified purity credentials.
Link to the TVC (YouTube):
Link to the TVC (Instagram):https://www.instagram.com/p/DciH4s7tim5//
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