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The government has imposed fresh curbs on silver imports, shifting several categories of the metal from the “free” to the “restricted” import policy regime, according to an official notification.

Under the revised rules, imports of silver bars containing 99.9 per cent purity, along with unwrought silver, semi-manufactured silver and silver in powder form, will now require mandatory government approval. Certain categories of silver imports have also been brought under Reserve Bank of India regulations.

The changes have been introduced through amendments to the import policy schedule under the ITC (HS) classification.

Policy Shift Tightens Control Over Silver Supply Chain

The revision covers a broad range of silver forms used across industrial and investment segments, including bullion-grade metal and semi-processed inputs used in manufacturing.

Until now, these categories were largely classified under the “free” import regime, allowing importers to bring in shipments subject mainly to standard regulatory oversight. Under the new framework, they will now require prior approval from authorities before clearance.

Approval Requirement Introduced Under Restricted Regime

With the latest change, imports of silver bars, unwrought silver, semi-manufactured silver and silver powder will fall under the “restricted” category, meaning shipments cannot proceed without explicit government clearance.

Certain segments of imports will also continue to be governed by RBI regulations, adding another layer of financial and compliance oversight for importers. The notification has come into effect immediately.

Part Of Broader Clampdown On Precious Metals Imports

The move comes amid a wider policy push to tighten oversight of precious metals imports and contain India’s rising import bill. Earlier, the Centre raised import duties on gold and silver to 15 per cent from 6 per cent.

At the same time, the Directorate General of Foreign Trade also tightened norms for duty-free gold imports under the Advance Authorisation (AA) scheme used by gems and jewellery exporters.

Under those revised rules, gold imports under the AA scheme have been capped at 100 kg per licence, while first-time applicants must undergo mandatory physical inspection of manufacturing facilities before approval.

The DGFT has also introduced stricter compliance requirements for repeat applicants, including conditions linked to fulfilment of export obligations and enhanced reporting norms backed by chartered accountant certifications.