<h1>India Cuts Gold Import Allowance for Returning Passengers from 10kg to 1kg, Affecting Domestic Jewellery Industry.</h1> The Government of India has reduced the allowance for eligible passengers returning from abroad to bring gold from 10 kg to 1 kg, effective April 18, 2012. This decision was made following concerns from the All India Gems and Jewellery Trade Federation about the misuse of the previous allowance, which negatively impacted the domestic jewellery industry. Between 2009 and 2012, gold imports significantly exceeded exports, with 986,126 kg imported and 138,510 kg exported in the 2011-12 period. These figures were provided by the Minister of State for Finance in response to a parliamentary question.