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The Government liberalized the import of gold and silver in the policy initiative announced in January, 2004 vide DGFT”s Notification No. 29 (RE-2004)/2002-07, dated 28.1.2004, in as much as the import of these items was allowed without the requirement of an import license or in order words it was brought under OGL. However, under Notification No. 80/97-Cus. dated 21.10.1997.
