National News
Gold import TRQ under India-UAE CEPA opens with 30 tonnes reserved for MSMEs
The Directorate General of Foreign Trade (DGFT) has notified the detailed procedure for allocation of Tariff Rate Quota (TRQ) for gold imports under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) for FY 2025-26.
As per the public notice issued on 17 December 2025, the current round of allocation will be restricted to 30 metric tonnes of gold. This first lot has been exclusively reserved for Micro Small and Medium Enterprises (MSMEs), with eligibility limited to entities holding valid BIS registration and GST identification. The maximum quantity that can be applied for is capped at 10 kg for Micro enterprises and 25 kg for Small enterprises.
The allocation will be carried out through a competitive e-auction process conducted on the MSTC portal. Interested bidders are required to submit both technical and financial bids within the prescribed timeline. DGFT clarified that gold dore imports will not be considered under this TRQ.
The TRQ authorisation issued by DGFT will allow successful bidders to avail concessional customs duty rates at the time of import from the UAE, in line with India’s commitments under the CEPA. The tentative schedule indicates that TRQ allocation and issuance of authorisations will be completed in the second week of January 2026.
DGFT also noted that any request to broaden eligibility beyond MSEs may be considered after review, given that a significant portion of the financial year has already elapsed.
National News
Gold & Precious Metals – A future outlook
The session saw a power packed panel of experts that comprisedSurendra Mehta, National Secretary- IBJA,Ranjith Singh,Head of Business Development, IIBX, Shweta Dhanak, Director – Vijay Exports,S Thirupathi Rajan, MD Goldsmith Academy, Shivanshu Mehta, SVP & Head Bullion-MCX.The session was moderated by Chirag Seth, Principal Consultant, Metals Focus.
Some salient points made by the panelists:
- Gold prices are not linked to consumer demand. They are linked to central bank buying and ETFs
- Till the banking system doesn’t collapse, gold price will continue to rise


- Jewellers were advised to use a mix of futures and options for risk mitigation


- Given the current situation manufacturers selling on credit or unfavorable deals could be fatal flaw for business.
- Precious metals forecast: Surendra Mehta said he sees gold in 2026 in $4900-5100 range and silver in $90-105.Looking further he said by 2030-2035 gold could touch $18000- 20000 and silver could reach $500. Chirag Seth predicted silver touching $105 this year and gold moving in the $ 5200- $ 5500.
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