India Restricts Import of High-Purity Silver Bars Under Revised ITC HS Policy
By restricting silver bar imports, authorities are expected to gain greater control over trade flows, while also reinforcing transparency and accountability in the sector
The Government of India strengthened controls on silver imports, issuing a notification that revises the import policy for certain categories of silver bars. According to Notification No. 7/2026-27, dated May 16, 2026, theDirectorate General of Foreign Trade (DGFT) has amended the import status of silver bars under ITC HS Codes 71069221 and 71069229.
Previously, these items, bars containing 99.9 percent or more by weight of silver and other silver bars, were freely importable, subject only to Reserve Bank ofIndia regulations. With the latest amendment, however, their import policy has been shifted from “Free” to “Restricted.” This means importers will now require specific authorization under Policy Condition No. 7 of Chapter 71 before shipments can be cleared.
The notification cites powers under Sections 3 and 5 of the Foreign Trade (Development & Regulation) Act, 1992, read with relevant provisions of the Foreign Trade Policy (FTP) 2023
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