New Delhi: The directorate general of foreign trade (DGFT) on Wednesday said it has invited bids for the first round of allocation of gold import quota under the India-UAE trade pact for 2025-26. In October, it was decided that the allocation of TRQ (tariff rate quota) for gold under India-UAE CEPA (comprehensive economic partnership agreement) will be undertaken based on the competitive bidding/tender process.
"Accordingly, the Directorate General of Foreign Trade hereby invites bids/tenders for the first round of allocation of Gold TRQ under tariff head 7108 under India-UAE Comprehensive Economic Partnership Agreement (CEPA) for FY 2025-26," it said in a public notice. Under the tariff rate quota, imports of specified goods are allowed at reduced duty up to a certain quantity.
The DGFT has laid out a procedure for the first round of allocation of TRQ for gold imports. The total quantity is restricted to 30 tonnes in the current round of allocations. The schedule for the next round of allocations will be intimated after the conclusion of this round, it said.
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