Government Imposes Import Restrictions on Silver Following Duty Hike
In a significant policy shift, the government has imposed new import restrictions on silver, following a recent increase in customs duties on precious metals. This change, which affects silver items including those combined with gold and platinum, requires importers to obtain a government license. The move aims to regulate the importation of these valuable metals more strictly. Read on to learn more about the implications of these new regulations and how they may affect the market.
| May 16, 2026, 20:29 IST
New Import Regulations for Silver
In a recent move, the government has introduced import restrictions on silver just days after increasing customs duties on precious metals, including gold and silver. On May 13, the import duty for these metals was raised significantly from 6% to 15%. According to a notification from the Directorate General of Foreign Trade, the import policy for silver, which also encompasses silver items combined with gold and platinum, has shifted from a free import status to a restricted one, effective immediately. This means that any goods classified under the restricted category will now require a government license for importation.