India has tightened rules for duty-free gold imports under the advance authorisation scheme, a day after raising customs duties. The DGFT now caps gold imports at 100 kg per licence and requires firms to meet at least 50% of earlier export obligations before receiving further approvals. The government says the scheme risks “price arbitrage” and misuse through quick large shipments. It also introduces mandatory physical inspections for new applicants and adds fortnightly and monthly reporting on import and export activity.
The US has raised fresh concerns about India’s high customs duties on IP-intensive goods and a proposed mandatory blanket license for AI developers using copyrighted works. India is still on the US “Priority Watch List” over weak IP protection, with fears including trade secret disclosure and patent revocations, especially affecting the pharmaceutical sector.
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