Government Could Ban Imports of 24-Carat Gold Jewellery: Report

The government is planning to ban imports of 24-carat gold jewellery in an attempt to curb the misuse of free trade agreements (FTAs) with Asian countries, the DNA newspaper reported. The world's second biggest gold consumer raised the import duty on the metal to 10 per cent in 2013 to curb demand but that has boosted smuggling and prompted some importers to use India's FTAs with the Association of Southeast Asian Nations to import ...