DGFT License for Gold Import: A Definitive Guide for 2026

The Indian gold market is one of the most regulated yet lucrative sectors globally. As we navigate 2026, the regulatory framework governed by the Directorate General of Foreign Trade (DGFT) and the Reserve Bank of India (RBI) has become increasingly precise to curb duty evasion and streamline supply chains.

Whether you are a jewelry exporter, a large-scale refiner, or a financial institution, obtaining a DGFT license for gold import is no longer just a procedural step—it is a strategic necessity. This guide breaks down the updated 2026 policies, eligibility criteria, and the step-by-step application process.

The 2026 Gold Import Landscape: What has Changed?

In late 2025 and early 2026, the DGFT introduced significant amendments to Chapter 71 of the ITC (HS) codes. The primary shift has been from "Free" to "Restricted" for several high-purity categories to align with the Finance Act 2025.

• Nominated Agencies: Most gold imports (HS Codes 71081210 and 71081310) are restricted to nominated banks (authorized by RBI) and nominated agencies (notified by DGFT).

• The IIBX Gateway: Qualified Jewellers can now import gold directly through the India International Bullion Exchange (IIBX) in GIFT City, bypassing traditional intermediaries.

• CEPA TRQ: The India-UAE Comprehensive Economic Partnership Agreement (CEPA) provides a specific Tariff Rate Quota (TRQ), allowing eligible holders to import gold at a concessional duty rate.

Who Can Apply for a Gold Import License?

Not everyone is eligible to import bullion. The DGFT classifies eligible applicants into three primary buckets:

1. Nominated Agencies

State-run trading enterprises (like MMTC) or private agencies that meet a specific turnover and net-worth threshold. They act as the primary suppliers to the domestic jewelry industry.

2. Gold Refineries (Gold Dore)

Refineries can import Gold Dore (unrefined gold) under a specific Actual User (AU) condition license. This ensures that the raw gold is processed within their own facility.

3. Jewelry Exporters

Exporters can import gold duty-free under schemes like Advance Authorization or the Replenishment Scheme, provided the gold is used for manufacturing jewelry intended for export.

Eligibility and Net Worth Requirements

To apply for a DGFT license or status as a nominated agency in 2026, your entity must generally meet the following:

• Net Worth: A minimum net worth of ₹25 Crores in the precious metals business as per the latest audited financial statements.

• Turnover: 90% of the annual average turnover in the last three financial years must be from precious metals.

• Financial Standing: A clean track record with the RBI (no "caution-listed" status) and a high credit rating.

The Step-by-Step Application Process (2026 Updated)

The DGFT has moved all licensing processes to the Customer Portal (dgft.gov.in). Here is the modern workflow:

Step 1: Obtain/Update your IEC

The Importer-Exporter Code (IEC) is the foundation. In 2026, your IEC is linked to your PAN, but you must ensure your profile is updated on the DGFT portal with the correct "Nature of Concern" and "Industrial/Merchant" category.

Step 2: Apply for TRQ (If importing from UAE)

Every February, the DGFT opens the window for Tariff Rate Quota (TRQ) applications for the next financial year (FY 2026-27). If you wish to import at a 1% duty concession under CEPA, this is mandatory.

Step 3: Filing Form ANF-2M

For the import of restricted items (including Gold Dore), you must file ANF-2M (Application for Import Authorization for Restricted Items).

• Key Submission: You must attach a 3-year production and export/sale performance report.

• Actual User Declaration: Refineries must provide a declaration that they possess the necessary pollution control clearances and refining capacity.

Step 4: Verification and Approval

The application is reviewed by the Exim Facilitation Committee (EFC). They may coordinate with the jurisdictional Regional Authority (RA) of the DGFT to conduct a physical inspection of your premises.

Critical Documents Checklist

Document Type

Requirement Detail

IEC Certificate

Must be active and updated.

RCMC

Registration-cum-Membership Certificate from GJEPC.

Pollution NOC

Mandatory for Gold Dore importers (Refineries).

Audited Financials

Past 3 years’ P&L and Balance Sheet showing precious metal turnover.

Chartered Accountant Certificate

Certifying NOF (Net Owned Funds) and turnover.

Manufacturing License

For refineries or jewelry manufacturers.

Benefits of AEO Status in Gold Import

In 2026, being an Authorized Economic Operator (AEO) provides a massive advantage in gold imports. AEO T2 and T3 status holders enjoy:

1. Direct Port Delivery (DPD): Faster clearance at customs.

2. Deferred Duty Payment: The ability to pay customs duty in cycles rather than per shipment.

3. Reduced Bank Guarantees: Significantly lowering the working capital tied up in compliance.

Common Pitfalls to Avoid

• HS Code Misclassification: Using an outdated HS code (pre-2025 updates) can lead to shipments being seized at the port.

• Under-utilization of Quota: If you are granted a TRQ but fail to utilize at least 75% of it, your eligibility for the next year may be revoked.

• FEMA Non-compliance: All payments must be routed through an Authorized Dealer (AD) bank. Any mismatch in the Bill of Entry (BoE) and bank records will trigger an RBI alert on the IDPMS (Import Data Processing and Monitoring System).

Conclusion

Securing a DGFT license for gold import in 2026 is a rigorous process designed to maintain the fiscal health of the nation. While the barriers to entry are high, the rewards for compliant businesses—especially those leveraging the IIBX and CEPA TRQ—are substantial.

As policies continue to evolve with the National Single Window System (NSWS), staying updated with the latest DGFT "Trade Notices" is the only way to ensure your bullion business remains "future-proof."

Need Help with Your Gold Import Authorization?

At CorpZo, we specialize in the technical and regulatory nuances of the precious metals industry. From TRQ quota applications and ANF-2M filings to securing GJEPC memberships, our experts navigate the DGFT corridors so you can focus on the market.

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