The federal government has restricted the imports of sure waste and scrap of valuable metals, in line with a notification of the commerce ministry.
Imports of these things had been free earlier. Now, it has been put underneath a restricted class, which implies an importer should search a license or permission from the directorate common of overseas commerce (DGFT) to import these items.
The products embody ash containing valuable steel or valuable steel compounds; of platinum, together with steel clad with platinum however excluding sweepings containing different valuable metals; and different sweepings containing gold or silver.
The DGFT amended the import coverage for ash containing valuable steel or valuable steel compounds, together with gold, platinum and silver, to “restricted” from “free”.
“Import coverage…has been revised from Free to Restricted with speedy impact,” the DGFT has mentioned in a notification.
India’s imports of those items in April-February FY22 had been USD 36.6 million as towards USD 72 million in 2020-21.