Abeyance of Gold Export Norms Notice Extended to 31.10.2024
Directorate General of Foreign Trade (DGFT) issued Public Notice No. 23/2024-25 dated September 12, 2024, extending the abeyance of Public Notice No. 05/2024. The original notice, issued on May 27, 2024, aimed to modify the wastage permissible and Standard Input Output Norms (SIONs) concerning gold, platinum, and silver content in export items. Due to concerns raised by the Gem & Jewellery Export Promotion Council (GJEPC), the DGFT previously postponed its implementation through various public notices. The abeyance period, initially extended until July 31, 2024, and further until August 31, 2024, was last delayed until September 15, 2024. Now, this latest notice extends the abeyance until October 31, 2024. During this period, the existing wastage norms under Paragraph 4.59 of the Handbook of Procedures 2023 and the previous SIONs (M1 to M7) will continue to apply. The DGFT exercised its powers under the Foreign Trade Policy 2023 to make this decision. The public notice emphasizes that these temporary measures are based on feedback from the gem and jewelry industry, and the norms introduced in May remain suspended for further review. The decision was signed by Santosh Kumar Sarangi, Director General of Foreign Trade.
Government of IndiaMinistry of Commerce & IndustryDepartment of CommerceDirectorate General of Foreign TradeVanijya Bhawan, New Delhi
Public Notice No. 23/2024-25-DGFT | Dated: 12th September, 2024
Subject: Further abeyance of Public Notice No. 05/2024 dated 27.05.2024 until 31.10.2024.
Whereas Public Notice No. 05/2024 dated 27.05.2024 had been issued to modify the wastage permissible and Standard Input Output Norms with reference to Gold/Platinum/Silver content in export item. However, keeping in view the representation of the Gem & Jewellery Export Promotion Council (GJEPC), Public Notice No. 05/2024 dated 27.05.2024 had been kept in abeyance till 31.07.2024 vide Public Notice No. 06/2024 dated 28.05.2024 and had been kept in abeyance till 31.08.2024 vide Public Notice No. 16/2024-2025 dated 29.07.2024 which had been further kept in abeyance till 15.09.2024 vide Public Notice No. 20/2024-2025 dated 29.08.2024.
2. Accordingly, DGFT in exercise of powers conferred under Paragraph 1.03 and 2.04 of the Foreign Trade Policy 2023 as amended from time to time hereby places the Public Notice No. 05/2024 dated 27.05.2024 in abeyance for a further period up to 31St of October, 2024. For the interim period, wastage norms under Para 4.59 of Handbook of Procedures 2023 and SIONs M1 to M7 as existed prior to issuance of the said Public Notice No. 05/2024 dated 27.05.2024 stand restored.
Effect of the Public Notice: Public Notice No. 05/2024 dated 27.05.2024 is kept in abeyance till 31st of October, 2024 .
(Santosh Kumar Sarangi)Director General of Foreign TradeEx-officio Addl. Secretary to the Government of Indiae-mail: [email protected]
(Issued from File No. 01/94/180/104/AM24/PC-4)
