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GJEPC & IIBX achieve milestone with first duty-free gold import under advance authorization scheme

India’s First Duty-Free Gold Import Achieved via IIBX and GJEPC under DGFT’s I-Ux+ Scheme, Marking a New Era of Transparent and Regulated Bullion Trade

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The India International Bullion Exchange (IIBX), in collaboration with the Gem & Jewellery Export Promotion Council (GJEPC), has achieved a major milestone by facilitating the country’s first-ever duty-free import of gold under the Directorate General of Foreign Trade’s  IU X  +. This breakthrough marks a new chapter in India’s bullion market, aligning with the government’s vision to streamline bullion imports through transparent and regulated channels.

Ashok Gautam, Managing Director & CEO, IIBX, said, “We thank the Gem & Jewellery Export Promotion Council (GJEPC) for the confidence it has bestowed on us. In our endeavour to support jewellery exports from India, IIBX has successfully enabled Advance Authorisation License Holder Qualified Jewellers to import bullion. The first transaction has been successfully concluded and cleared by Customs.”

The International Financial Services Centres Authority (IFSCA), through its latest circular issued on October 10, 2025, has consolidated and updated guidelines to enable Qualified Jewellers and India-UAE CEPA Tariff Rate Quota (TRQ) Holders to import gold and silver through IIBX. The circular simplifies eligibility norms, operational procedures, and compliance requirements, making the process more inclusive and efficient.

Under this mechanism, jewellers holding DGFT’s Advance Authorisation License and notified as Qualified Jewellers by IFSCA can now import gold through IIBX without paying import duty, provided the metal is used for jewellery meant for export. The platform ensures full transparency, traceability, and regulatory compliance throughout the transaction chain-from purchase on IIBX to clearance by Customs.

The development is expected to significantly boost India’s jewellery exports by reducing input costs and improving liquidity for exporters. It also strengthens IIBX’s role as a trusted global bullion marketplace operating from GIFT City’s International Financial Services Centre (IFSC).



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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.

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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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