India drops 80:20 gold import/export rule

In a surprise relaxation of India’s controls on gold imports, the nation’s government is to drop the controversial 80:20 rule which decrees that 20% of imported gold has to be re-exported (primarily as jewellery). There has apparently been no move so far, however, to relax the 10% import duty on gold and silver..

India drops 80:20 gold import/export rule