Gold/Platinum/Silver exports: Public Notice No. 05/2024 u/s Foreign Trade Policy 2023 is in abeyance till 31st July 2024 for reassessment.

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....The Directorate General of Foreign Trade, u/s 1.03 and 2.04 of the Foreign Trade Policy 2023, has placed Public Notice No. 05/2024 dated 27.05.2024 in abeyance until 31st July 2024. This decision follows industry consultations and a representation from the Gem & Jewellery Export Promotion Council regarding difficulties faced by the sector and MSMEs. The abeyance allows for further submission of data on manufacturing workflow and justification for process wastage. During this period, wastage norms under Para 4.59 of Handbook of Procedures 2023 and SIONs M1 to M7 revert to pre-notice levels. The abeyance aims to reassess permissible wastages and SIONs in response to industry feedback.....