Malabar Gold gets TRQ licence for gold import via IIBX

Hyderabad: Malabar Gold and Diamonds, one of the largest gold and diamond retail chains of the country, became the first jewellery group in India to obtain a TRQ (Tariff Rate Quota) licence from the Director General of Foreign Trade (DGFT) whereby they can import gold through India International Bullion Exchange (IIBX).

TRQ will help the group in importing gold through the IIBX under the India-UAE Comprehensive Economic Partnership Agreement (CEPA)at reduced duty rates with convenience and transparency.

MP Ahammed, Chairman, Malabar Group said, “We would like to thank all the authorities who have made this transaction possible.

This will further strengthen our mission - ‘Make in India, Market to the World’. The TRQ licence will also pave the way for us to become the number one jewellery group in the world.”