India has announced restrictions on imports of unwrought platinum and platinum powder, with an exception for alloys containing at least 99% pure platinum, according to a government notification issued on Wednesday.

The Directorate General of Foreign Trade (DGFT) revised the import policy for platinum, moving certain categories from the “free” list to the “restricted” list.

Under the new policy, imports of unwrought platinum, platinum powder, and other specified forms require authorization from the DGFT, except for platinum alloys that have a purity of 99% or more by weight.

To ensure a steady supply for jewelry and industrial uses, the government has allowed the unrestricted import of platinum alloys with a purity of at least 99%.

This change comes in response to concerns that some importers were taking advantage of tariff differences by blending gold with platinum to bypass higher import duties on gold.

The economic think tank GTRI had earlier raised concerns about the duty-free imports of gold, silver, platinum, and diamonds from the UAE, cautioning that the arrangement could be exploited to avoid tariffs.

In October of the previous year, India voiced concerns over the rising imports of silver products, platinum alloys, and dry dates from the UAE, calling for stricter enforcement of the rules of origin under the Free Trade Agreement (FTA). Following discussions, the UAE agreed to address India’s concerns.