GJEPC organised a webinar on “Supply of Duty-Free Precious Metals to Exporters” on 31st October 2025. The session brought together nearly 150 industry stakeholders to discuss procedures, challenges, and policy frameworks surrounding the procurement of duty-free gold and silver.
The session featured Mr. Nirakar Chand, CEO – Precious Metals, Diamond India Limited (DIL), as the keynote speaker, and was moderated by Mr. Sabyasachi Ray, Executive Director, GJEPC. Also in attendance were Mr. Tariq Thomas, Director, Department of Commerce (DoC); Ms. Tuhina Das, Deputy Director, DoC; and Mr. K.K. Duggal, Senior Director – Policy, GJEPC.
Mr. Sabyasachi Ray outlined the procedures for obtaining duty-free gold and silver through various schemes under the Foreign Trade Policy, including Replenishment, Outright Purchase, and Gold Metal Loans via nominated agencies. He explained DIL’s role as a DGFT-notified nominated agency supplying duty-free gold and silver to over 1,200 SME exporters across major bullion centres. He also clarified that replenishment allows exporters to replace duty-paid gold with duty-free gold on a one-to-one basis after export, with prices based on prevailing market rates.
While appreciating GJEPC’s initiative to educate small and medium-sized exporters, Mr. Tariq Thomas, Director, Department of Commerce, remarked, “The Government remains committed to extending all possible support to exporters. I would, however, encourage everyone to effectively leverage the existing framework of norms and duty structures, and explore avenues to channelise gold and silver imports through nominated agencies.”
The speakers discussed operational issues faced by smaller exporters, such as limited access to duty-free gold due to high minimum quantities, challenges in obtaining bank guarantees, and delays in KYC and margin refunds.
Mr. Chand assured exporters that DIL offers a simplified online KYC process and small-denomination supplies to support MSMEs. He also confirmed that duty-free gold exports must adhere strictly to the FTP and HBP provisions, with exports required within 90 days of import.
Mr. K.K. Duggal addressed policy and procedural bottlenecks, particularly concerning the advance authorisation process for silver and platinum, and assured follow-up with DGFT on pending issues. He clarified the valuation norms for silver exports and reaffirmed GJEPC’s efforts to simplify trade procedures for the benefit of small exporters.
The session concluded with a lively Q&A session and open discussion on gold pricing, export documentation, replenishment timelines, and TRQ applicability.
Participants were encouraged to reach out to GJEPC’s regional offices or DIL for further guidance on scheme implementation and compliance.
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