Athira Sethu
Kochi, 3 June 2026
The rules related to the importation of particular silver products have become stringent in India. Going forward, all imports of such silver products will require an authentic Import Authorisation issued by the Directorate General of Foreign Trade (DGFT).
According to the new rule, all unwrought silver products containing 99.9% pure silver will continue to come under the category of “restricted”. Therefore, no imports of these products will be allowed without the relevant permission.
Before, the imports of these products could be carried out using various approved methods. Imports of silver via the India International Bullion Exchange (IIBX) were allowed for banks registered with the Reserve Bank of India (RBI), DGFT-approved agencies, as well as certified jewelers recognized by the International Financial Services Centres Authority (IFSCA).
The decision was made public by the department through an announcement by the DGFT. It is an attempt to enhance regulation of the import of silver into the country and ensure that its flows are effectively controlled.
However, there have been no changes in the rules related to the import of silver dore. Silver dore, which is partly refined silver, can still be imported against an Actual User (AU) licence, under which the imported item can only be used by the license holder and not sold.
The most recent development comes as imports of silver into India have risen significantly. As per official data, the value of silver imports grew 157% year-on-year in April to $411 million. In the current fiscal year up to now, silver imports have grown by about 150% to $12 billion.
Various measures have been adopted to control the import of precious metals. In the past month, for example, the government increased the import duty on gold and silver to 15% in order to limit non-essential imports, as this places additional burden on the foreign currency reserves of the country due to unrest in West Asia.
Most of India’s silver imports come from nations like UAE, the UK, and China. Silver is extensively used in the manufacture of jewelry and other industrial purposes including the manufacturing of electronic and renewable energy devices.
