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The authorities has imposed restrictions connected metallic imports, according to an authoritative bid issued connected Saturday, arsenic authorities proceed efforts to modulate bullion inflows and trim unit connected the country’s outer sector.In a notification, the Directorate General of Foreign Trade said the import argumentation for silver, including metallic alloys with golden and platinum, has been revised from “free” to “restricted” with contiguous effect.Goods placed nether the restricted class volition present necessitate a authorities licence for import.
The latest determination comes amid a bid of measures announced by the authorities successful caller days to tighten monitoring and power implicit imports of precious metals.On Friday, the authorities capped golden imports nether the Advance Authorisation (AA) strategy astatine 100 kilograms and introduced stricter compliance requirements for importers successful the gems and jewellery assemblage done a Directorate General of Foreign Trade (DGFT) notification.“Advance Authorisation (AA) for import of golden shall beryllium issued, taxable to a maximum permissible quantity bounds of 100 kilograms,” the notification said.
The DGFT besides tightened norms for first-time applicants.“In lawsuit of exertion for Advance Authorisation by a first-time applicant, a mandatory carnal inspection of the applicant's manufacturing installation shall beryllium undertaken by the acrophobic determination authorization to verify the existence, capableness and operational presumption of the manufacturing facility,” it said.The authorities further linked aboriginal golden import approvals to export show requirements.“Any consequent Advance Authorisation for the import of gold, shall beryllium considered for issuance lone upon fulfilment of astatine slightest 50% of the export work prescribed nether the preceding Advance Authorisations for gold,” the notification stated.To fortify oversight, importers nether the Advance Authorisation strategy volition present beryllium required to taxable fortnightly show reports certified by an autarkic chartered accountant detailing import and export activity.The Centre had besides precocious raised import duties connected golden and metallic to 15 per cent from 6 per cent and imposed a 3 per cent Integrated Goods and Services Tax (IGST) connected bullion imports.The measures are aimed astatine curbing non-essential imports and reducing unit connected overseas speech reserves astatine a clip erstwhile elevated crude lipid prices and planetary geopolitical uncertainties are affecting the outer balance.India's golden imports roseate much than 24 per cent to a grounds $71.98 cardinal successful 2025-26, though shipment volumes declined 4.76 per cent to 721.03 tonnes.The authorities had earlier said the tighter model was intended to guarantee amended monitoring of imports portion maintaining capable availability for export-oriented sectors specified arsenic gems and jewellery.
