MMTC surges on reports of gold import curbs

According to reports citing the India Bullion and Jewellers Association (IBJA), importers are awaiting clarification from the Directorate General of Foreign Trade (DGFT) on concessional duty issues, which have led to GST-related bottlenecks.

The association also indicated that there have been no imports of dore gold for the past three months, pointing to a significant supply squeeze. Dore refers to an unrefined gold-silver alloy sourced from mines that is later refined into pure gold.

Further, reports suggest that gold import applications have been rejected since 1 April 2026, with exceptions only for MMTC and the India International Bullion Exchange. This has effectively narrowed official import channels.

MMTC, a government-owned trading enterprise, is engaged in the import and export of precious metals, coal and other commodities.

On a consolidated basis, MMTC's net profit soared 1164.21% to Rs 46.27 crore while net sales rose 36% to Rs 0.34 crore in Q3 December 2025 over Q3 December 2024.