FTA with UAE for gold imports Perspective by Colin Shah

Nov 22, 2023

Mr Colin Shah, MD, Kama Jewelry

“It’s a welcome move for the jewellery manufacturers with revenue of below 25 crores and are holders of TRQ (tariff rate quote) licence holders. This will strengthen them to import gold from UAE under the FTA, and empower them to export finished products to other international markets, ultimately playing a role of a coveted contributory towards the Indian economy.

The details on the SOPs are still awaited. However, with the ongoing geo-political situation, it is important to keep a check on demand trajectory to avoid pile-up of the inventory. Having said that, the domestic demand was robust during the festive sales and will continue to strengthen with onset of the wedding season.”

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