Duty-free Gold and Jewellery in India-UAE Trade Pact

India has agreed to concessional import duties on gold imports of up to 200 tonnes per year. India imported about 70 tonnes of gold from the UAE in 2020-21. "We are a major importer of gold. India imports about 800 tonnes of gold every year. In this particular agreement, we have given them (UAE) a TRQ (tariff rate quota) of 200 tonnes where the tariff (or import duty) in perpetuity will be one percent less than whatever is the tariff charged for the rest of the world.