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of <h1>DGFT Updates Rules for Exporting Precious Metals; Expands Authorized Agencies and Sets New Supply Criteria.</h1> The circular outlines procedures and guidelines for the export of gold, silver, and platinum by nominated agencies. It expands the list of nominated agencies authorized to import duty-free precious metals for supplying to exporters under various schemes. The Directorate General of Foreign Trade (DGFT) has set a minimum supply criterion of 15% and specified procedures and conditions for these agencies. The circular also details the warehousing, bonding, and bank guarantee requirements for nominated agencies, along with the responsibilities of exporters to provide proof of export. It replaces Circular No. 24/98-Cus and aims to streamline the export process for precious metals.
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