DGFT Tightens Silver Import Policy: Valid Import Authorisation Now Mandatory for Nominated Agencies, IIBX Jewellers [Read Order]
Silver imports were earlier permitted through agencies nominated by the RBI and notified by the DGFT, and IIBX jewellers.
![DGFT Tightens Silver Import Policy: Valid Import Authorisation Now Mandatory for Nominated Agencies, IIBX Jewellers [Read Order]](https://images.taxscan.in/h-upload/2026/06/04/2139170-directorate-general-of-foreign-trade-foreign-trade-taxscan.webp "DGFT Tightens Silver Import Policy: Valid Import Authorisation Now Mandatory for Nominated Agencies, IIBX Jewellers [Read Order]")
The Directorate General of Foreign Trade (DGFT) has amended the import policy conditions for silver under specific ITC (HS) codes falling within Chapter 71 of ITC (HS) 2022, Schedule-I, now requiring nominated agencies and qualified jewellers importing through the India International Bullion Exchange (IIBX) to hold a valid Import Authorisation issued by DGFT. Also Read:DGFT Issues...
The Directorate General of Foreign Trade (DGFT) has amended the import policy conditions for silver under specific ITC (HS) codes falling within Chapter 71 of ITC (HS) 2022, Schedule-I, now requiring nominated agencies and qualified jewellers importing through the India International Bullion Exchange (IIBX) to hold a valid Import Authorisation issued by DGFT.
The amendment, issued through a Notification issued on June 2, 2026 covers silver powder (HS code 71061000), silver grains (71069110), silver containing 99.9 percent or more by weight (71069120), and other silver not elsewhere specified (71069190), all of which carry a restricted import policy.
Under the revised conditions, imports through nominated agencies notified by the Reserve Bank of India in the case of banks, and by DGFT in the case of other agencies, shall be permitted only against a valid Import Authorisation issued by DGFT.
Similarly, imports by qualified jewellers notified by the International Financial Services Centres Authority (IFSCA) for import through IIBX shall also require a valid Import Authorisation from DGFT. The DGFT has retained the provision permitting silver dore to be imported by refineries against a licence with an AU Condition.
The notification essentially mandates the need for a valid Import Authorisation from DGFT for silver imports under the specified ITC (HS) codes, be it through nominated agencies or IIBX-route jewellers.
The notification has been issued with the approval of the Minister of Commerce & Industry and signed by Lav Agarwal, Director General of Foreign Trade and Ex-officio Additional Secretary to the Government of India.
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