The DGFT has introduced stricter regulations for silver imports, requiring valid import authorisation for agencies previously exempted.
DGFT Tightens Silver Import Policy for Nominated Agencies
The Directorate General of Foreign Trade (DGFT) has implemented tighter regulations regarding silver imports, mandating that valid import authorization is now a prerequisite for nominated agencies and IIBX jewellers. This development marks a significant shift in the regulatory landscape surrounding precious metal imports.
Previously, silver imports were facilitated through various agencies nominated by the Reserve Bank of India and recognized by the DGFT. The recent announcement signifies the government's heightened scrutiny over silver imports as part of broader fiscal measures.
Legal experts and clients engaged in import operations should assess the implications of these new requirements, as non-compliance could result in legal repercussions. Practitioners should guide their clients in securing the necessary authorizations to avoid penalties.
Citations
- DGFT Silver Import Policy (2026) DGFT 1
