Wednesday, March 20th 03:27 PM IST

India's Gold jewellery imports from Thailand drops

# Thailand gold  # India gold  # FTA  # gold ornaments  

Thailand is also a part of ASEAN-India Agreement on Trade in Goods where gold jewellery is included for concessional trade.

NEW DELHI(BullionStreet): India's gold jewellery imports from Thailand dropped to $95.48 million in the first three quarters of this fiscal.

According to official figures from India's commerce ministry, gold imports from the south east Asian nation was $109.79 million.

India and Thailand have signed a Framework Agreement for establishing an India-Thailand Free Trade Agreement.

There is an Early Harvest Scheme under this Framework Agreement which covers certain items for concessional trade including gold jewellery.

Thailand is also a part of ASEAN-India Agreement on Trade in Goods where gold jewellery is included for concessional trade.

Since a doubt has been raised about the accuracy of the information given on the Certificates of Origin issued by Thailand under Early Harvest Scheme, a request has been made to Thailand for retroactive check of Certificates of Origin.

In the meanwhile, the Department of Revenue has been advised to suspend preferential import of gold jewellery with identified tariff lines from Thailand till the retroactive check is conducted by the Thai side.

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