Govt allows export of gold idols of up to 24 carats with certain conditions

The government has allowed export of gold idols of eight carats and up to 24 carats with certain conditions, according to a notification of the commerce ministry.

However, these exports are allowed only from the domestic tariff area.

Foreign trade policy has been amended "to allow export of gold idols (only gods and goddess) of 8 carats and above (up to 24 carats) from domestic tariff area," Directorate General of Foreign Trade (DGFT) has said in a notification.

The conditions for overseas shipments of the idols include 100 per cent examination of these exports by the approved government valuer, foreign remittance has to be realised within a period of three months from the date of exports, and mandatory submission of export order by exporters.

Exporters would also have to make clear distinction between a religious idol and simply moulded gold article/idol.

Besides, the exports would be allowed only by actual manufacturers of such idols, the notification said.