Government mulls keeping gold jewellry out of all free trade agreements through re-negotiations

Government mulls keeping gold jewellry out of all free trade agreements through re-negotiations

India will keep gold jewellry out of all free trade agreements (FTAs) to be signed in the future while it contemplates removing the item from existing ones through renegotiations, said two government officials familiar with the matter. The finance ministry and the commerce department are in dialogue over imposing the clampdown. The move is aimed at damage control after gold jewellery from third countries under the India- Thailand FTA and the India-Asean FTA flooded the markets after customs duty was raised on imports through regular channel