Trade General India admits samples of negligible value considered unsuitable for consumption or sale and clearly marked as such, free of duty. Samples of value may be imported temporarily under bond or deposit. The familiarity between these countries could enable them to reduce tariffs and provide easy access for their products to each other's markets. Import duties are applied to almost all items imported into India and are a major source of revenue for the central government. Imports do not require licences or customs clearance permits unless specifically required.
Most capital goods are freely importable.
Imports of gold, silver, currency notes, bank notes and coins are controlled by the Reserve Bank. The Chief Controller of Imports and Exports issues import licenses. India has relaxed its import restrictions on several consumer durable goods, electronic equipment and petroleum products. The tariff is based on the Harmonised System. Customs bonded warehouses are available at selected entry points for duty-free import of goods for manufacturing exclusively for export purpose.