New Delhi, Oct. 24 -- New Delhi: The government has tightened export compliance for jewellery manufacturers under the advance authorization scheme, aiming to curb procedural loopholes amid soaring gold imports, a key factor for latest spike in India's trade deficit. The Directorate General of Foreign Trade (DGFT) has aligned export timelines with the Foreign Trade Policy (FTP) 2023, requiring exporters to complete their obligations within 120 days of import and removing any scope for extensions.

The move comes as India's gold imports nearly doubled to $9.6 billion in September from $4.6 billion a month earlier, fuelled by festive demand and speculative buying. India's trade deficit shot up to a 13-month high of $32.15 billion in Septembe...