The Central Government, under the powers conferred by the Foreign Trade (Development & Regulation) Act, 1992, and the Foreign Trade Policy (FTP) 2023, has revised the Import Policy for certain categories of Platinum (Chapter 71 of ITC HS, 2022, Schedule-I).
Key Amendment:
The import policy for specified Platinum items has been changed from “Free” to “Restricted”, except for Platinum alloy with 99% or more purity, which remains free for import.
Revised Import Policy for Platinum
ITC(HS) Code | Description | Existing Import Policy | Revised Import Policy | Revised Import Policy Condition |
7110 | Platinum, Unwrought or in semi-manufactured forms, or in powder form. | |||
711011 | Platinum:– Unwrought or in powder form | |||
71101110 | Unwrought form | Free | Restricted | Platinum alloy of 99% or more purity remains free for import. |
71101120 | In powder form | Free | Restricted | |
71101900 | Platinum: Other | Free | Restricted | |
Effect of Notification:
The revised import restrictions aim to regulate the import of Platinum, with exceptions for high-purity Platinum alloys (99% or more purity).
Notification Reference: DGFT
Notification No. : 60/2024-25
05/03/2025)