Gold has been used by humans for thousands of years for jewellery, currency, and as a store of value. The chemical symbol for gold is "Au," which comes from the Latin word for gold, "aurum."
Gold cannot be made from other elements in a laboratory. It can only be extracted from the earth through mining or formed as a by-product of other mining processes.
The process for importing gold into India involves several steps, including obtaining necessary licenses and permits, compliance with customs regulations, and paying any applicable taxes and duties. Here is an overview of the process:
1. Obtain an Importer-Exporter Code (IEC) number: This is a 10-digit code issued by the Director General of Foreign Trade (DGFT) that is required for importing and exporting goods in India.
2. Obtain a license from the Reserve Bank of India (RBI): The import of gold into India is regulated by the RBI, and an import license must be obtained before importing gold.