Gold New Rules: The biggest news on gold, the rules for gold, silver and platinum have changed
Gold New Rules: India has tightened the rules for importing metals such as gold, silver and platinum. The Directorate General of Foreign Trade (DGFT) notified these changes on May 19, making them in line with the Finance Act 2025. The new policy restricts who can import these metals and under what conditions, as well as updates and standardizes HS codes to prevent misuse.
Stricter Gold Import Conditions
Raw and semi-manufactured gold of 99.5% or more purity by weight has now been put in the ‘Restricted’ import category. This applies to imports classified under HS codes 71081210 and 71081310.
Earlier, these categories were freely importable, but under the revised rules, they require government approval and have to go through authorised channels. Only agencies designated by the Reserve Bank of India (RBI) or DGFT can import this gold. Qualified jewellers accredited by the International Financial Services Centres Authority (IFSCA) can also import it, but only through the India International Bullion Exchange (IIBX). Also, entities holding tariff rate quotas (TRQs) under the India UAE Comprehensive Economic Partnership Agreement (CEPA) are allowed to import through IIBX and must take delivery through IFSCA-registered vaults in Special Economic Zones (SEZs).
Gold Dore can still be imported by licensed refineries with actual user conditions. Gold Dore is a semi-pure form of gold mixed with silver that is usually produced during mining or refining. Meanwhile, old and broad codes like 71081200 and 71081300 have been removed to improve traceability. Silver bars also now restricted Stricter controls are also in place on silver imports under the new policy.
Silver bars of 99.9 per cent purity or above, which could earlier be freely imported, are now classified as ‘Restricted’ under HS code 71069120. These can only be imported by RBI-notified banks, DGFT-nominated agencies or IFSCA-qualified jewellers operating through IIBX.
However, the government has placed semi-manufactured silver products under codes 71069221 and 71069229 in the ‘Free’ category. However, these imports are subject to RBI regulations. Rules for platinum Platinum imports have also been revised. Highly pure unwrought platinum under HS codes 711011111 and 71101121 – 99 per cent purity or above – remains freely importable. However, other forms of platinum will now require authorisation, as they have been put on the restricted list.
What does this mean for jewellers and investors? This change has restricted avenues for bullion imports. Jewellers can no longer import high-purity bars directly, unless they are authorised by IFSCA and operate through IIBX. Banks and agencies must be specifically designated to participate in the import process.
