Silver Rules: Wanna buy silver? Then there is new rule implemented, which you should know about it. The central government has taken a major step to control the rising import costs of silver in India and the record-breaking imports. Now, stricter regulations have been implemented on silver imports.
This government decision will have a direct effect on traders, jewelers, and agencies that import significant amounts of silver from overseas. According to the new regulations, DGFT approval will now be necessary to import silver with a purity of 99.9% or higher, whether it is in powder, grains, semi-manufactured form, or any other type. This rule will be applicable to all import channels authorized by the Reserve Bank of India (RBI), DGFT, or IIBX (India International Bullion Exchange).
New Silver Rules
In fact, there has been a notable increase in silver imports into India in recent years. During the 2025-26 fiscal year, the country imported a staggering $12 billion (around Rs 1 lakh crore) worth of silver, a significant rise from just $4.8 billion in the previous fiscal year, marking an almost 150% increase in silver imports within a single year. In April 2026, silver imports also surged by 157% year-on-year to reach $411 million.
Experts are concerned that importing such a large volume of silver could put additional strain on the country’s foreign exchange reserves. This is why the government is consistently working to regulate the import of precious metals like gold and silver. Recently, the import duty on gold and silver was raised from 6% to 15%. The requirement for DGFT permission is now viewed as the next phase in that strategy.
The demand for silver in India extends beyond just the jewelry sector. Its application is also rapidly growing in electronics, solar panels, medical devices, automobiles, and various other industrial fields. This is contributing to a steady rise in imports. India mainly sources silver from the United Arab Emirates (UAE), the United Kingdom (UK), and China.
Market analysts suggest that the new regulations could make the process of importing silver more complicated and may temporarily affect supplies. This could result in fluctuations in silver prices within the domestic market. Nevertheless, the government believes that this measure is essential to curb unnecessary imports and safeguard foreign exchange reserves.
The government has placed several silver products in the restricted category, which means that importers will now be required to obtain special permission, or import authorization, from the Directorate General of Foreign Trade (DGFT) before importing silver. Let ‘s explore the details in detail. With DGFT approval now mandatory for silver imports, traders will now have to comply with more regulations. This could impact silver trade, prices, and the jewelry industry in the coming months.
