The Directorate General of Foreign Trade (DGFT) has simplified procedures for expediting import authorisations for silver bullion, aiming to reduce processing time for eligible applicants.
Under Trade Notice No. 30/2026-27, dated October 13, 2026, applications covering specified ITC (HS) codes may qualify for expedited processing. Applicants must declare that imports will attract generally applicable customs duties without claiming concessions.
Regulated channels for silver imports
The simplified procedure excludes silver dore. Applicants must also justify the quantity and value of silver they seek to import.
Authorisations will require procurement through the India International Bullion Exchange (IIBX) or nominated banks and agencies notified under Appendix 4B of the Foreign Trade Policy, 2023. Each authorisation will remain valid for six months without an extension option.
Jewellery industry welcomes move
“This notification is an important step towards making silver more accessible to our members. With GJEPC RCMC holders recognised as Qualified Jewellers on IIBX, our members can access silver through the exchange,” Gem and Jewellery Export Promotion Council (GJEPC), Chairman, Kirit Bhansali, said.
“The simplified procedure will make it easier for eligible applicants to obtain import authorisations and procure silver through IIBX at international prices, subject to applicable duties and policy conditions,” he said.
Gold policy changes also sought
GJEPC is working to secure notification of IIBX under the policy for silver exports. Bhansali said the council was hopeful of achieving this soon and was pursuing similar measures for gold.
He added that progress on silver could strengthen the industry’s case for gold and other restricted HS codes.
DGFT retains scrutiny powers
DGFT has reserved the right to seek additional information and scrutinise applications. The procedure is intended to improve ease of doing business while maintaining transparency and traceability through regulated procurement channels.