The government on Tuesday extended the validity of licences issued for import of gold at quota-based duty concession under a free trade pact with the UAE till June 3 amidst the West Asian crisis.
Under the India-UAE comprehensive economic partnership agreement (CEPA), India has granted quota-based duty concessions on gold imports under the tariff rate quota (TRQ).
"In view of the prevailing geopolitical developments affecting global trade and logistics, and with a view to facilitating importers, the Director General of Foreign Trade'¦hereby extends the validity of TRQ Authorisations issued in the financial year 2025-26, for import of Gold ... issued under the India-UAE CEPA, from the existing validity of March 31, 2026 up to June 30, 2026," a government public notice said.
The pact came into force in 2022.
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