The government has imposed restrictions on silver imports, according to an official order issued on Saturday, as authorities continue efforts to regulate bullion flows and ease pressure on the country’s external sector.The Directorate General of Foreign Trade said in a notification that the import policy for silver, including silver alloys with gold and platinum, has been amended from “free” to “restricted” with immediate effect.
Goods placed within the restricted category will now require a government license for import.
The latest step comes amid a series of measures announced by the government in recent days to tighten monitoring and control of imports of precious metals.On Friday, the government capped gold imports under the Advance Authorization (AA) regime at 100 kg and introduced stricter compliance requirements for importers in the gems and jewelery sector through a notification to the Directorate General of Foreign Trade (DGFT).“Advance authorization (AA) will be issued for import of gold, subject to maximum permissible quantity of 100 kg,” the notification said.
The DGFT has also tightened criteria for first-time applicants.“If an application for prior authorization is submitted by a first-time applicant, a mandatory physical inspection of the applicant’s manufacturing facility must be conducted by the relevant regional authority to verify the existence, capacity and operational condition of the manufacturing facility,” the statement read.The government also linked future gold import approvals to export performance requirements.“Any subsequent prior authorization for import of gold will be considered for issuance only upon fulfillment of at least 50% of the export obligations stipulated under the prior prior authorizations for gold,” the notification stated.To enhance oversight, importers under the prior authorization system will now be required to submit bi-monthly performance reports certified by an independent chartered accountant detailing import and export activity.The Center also recently raised import duty on gold and silver to 15 per cent from 6 per cent, and imposed a 3 per cent integrated goods and services tax on bullion imports.These measures aim to curb non-essential imports and ease pressure on foreign exchange reserves at a time when rising crude oil prices and global geopolitical uncertainties are affecting the external balance.India’s gold imports rose more than 24 percent to a record $71.98 billion in 2025-26, despite shipment volumes falling 4.76 percent to 721.03 tons.The government had earlier said that the tightened framework aims to ensure better control of imports while maintaining adequate availability for export-oriented sectors such as gems and jewellery.