Directorate General of Foreign Trade Current Affairs

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Government puts imports of gold dore in restricted category

Directorate General of Foreign Trade (DGFT) under Ministry of Commerce and Industry has put imports of gold dore in restricted category. This means, now, importer needs a license to import this commodity.

Gold dore

It is semi-pure alloy of gold and silver which is refined for further purification. Proportions of silver and gold can vary widely. It usually created at site of a mine and then transported to refinery for further purification. Refined gold bars are manufactured from gold dore bar. India imports about 900 tonnes of gold year making it world’s second-biggest gold consumer after China. The imports mainly take care of demand of the jewellery industry.

Wastage and value addition norms for gold religious idols

DGFT also has prescribed wastage and value addition norms for gold religious idols (only gods and goddess) – both plain and studded, of eight carats and up to 24 carats. Under it, percentage of wastage for plain gold idols will be 2.5%, while it will be 5% for studded idols. Similarly, percentage of value addition for plain gold religious idols will be 10% and 14% in case of idols studded with colour gems stones. The percentage for value addition in case of idols studded with diamonds will be 15%.

Month: Categories: India Current Affairs 2018

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Government bans pet coke import for fuel use

Directorate General of Foreign Trade (DGFT) under Ministry of Commerce and Industry has banned import of petcoke for use as fuel. But it has allowed its import of only for use as feedstock in some select industries such as cement, lime kiln, calcium carbide and gasification industries. These industries were earlier affected by petcoke-related policy flip-flops, which began after Supreme Court judgment (October 2017) banning use its in and around New Delhi to curb pollution.

Key Facts

India is the world’s biggest consumer of petcoke. It gets over half its annual petcoke imports of around 27 million tonnes from United States. Local producers include Indian Oil Corp, Reliance Industries and Bharat Petroleum Corp.  It is dark solid carbon material. Cement companies in India account for about three-fourths of country’s petcoke use. Usage of pet coke in energy-hungry India recently had come under scrutiny due to rising pollution levels in major cities.

Petcoke (Petroleum coke)

It is one of the many industrial byproducts produced during oil refining. It is categorized as bottom of the barrel fuel as it is residual waste material which is obtained after refining coal to extract lighter fuels like petrol. It is used as a source of energy and carbon for various industrial applications. It is abundantly used in India in several manufacturing industries such as cement, steel and textile as it is significantly cheaper that coal, has high calorific value and is easier to transport and store. There are two kinds of pet coke produced viz. Fuel grade pet coke (80%) and calcined pet coke (20%) during oil refining.

Environment and Health Hazards of Pet Coke

Petcoke is much more potent pollutant than coal and causes greater harm to the environment and health. It contains whopping 74,000 PPM of sulphur content which is released into atmosphere as emissions which is much higher than vehicular emissions. It is also source of fine dust, which can get through filtering process of human airway and lodge in lungs which can cause serious health problems. Apart from sulphur, petcoke also releases cocktail of other toxic gases after burning such as nitrous oxide, mercury, arsenic, chromium, nickel, hydrogen chloride and greenhouse gases (GHG) which contribute to global warming.

Month: Categories: Environment Current Affairs 2018

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