DGFT Tightens Silver Imports: Key Silver Categories Shifted from ‘Free’ to ‘Restricted’

The Directorate General of Foreign Trade (DGFT) has introduced a significant amendment to the import policy of certain categories of silver under Chapter 71 of the ITC (HS) 2022 import policy.

The DGFT has announced this update through an Official Notification No. 7/2026-27 on May 16, 2026, in pursuance of its powers granted under Section 3 and Section 5 of the Foreign Trade (Development and Regulation) Act, 1992, read with paragraphs 1.02 and 2.01 of the Foreign Trade Policy, 2023. 

The revised policy is applicable to Silver bars falling under ITC (HS) Codes 71069221 and 71069229 of Chapter 71 of ITC (HS) 2022, Schedule – I (Import Policy).

The different varieties of silver, including silver containing silver plated with gold or platinum, unwrought or in semimanufactured forms, or in powder form; other semimanufactured silver bars containing 99.9% or more by weight of silver; and other bars. Previously, as per the existing import policy, the import of these items was ‘free’, meaning importers were not required to bear any special restrictions to import these items into India, subject to the Reserve Bank of India (RBI) regulations.

However, now, as per the present notification, the import status of these silver items has been changed from “Free” to “Restricted”. Meaning, importers will now require special authority to import these silver items into the country under policy condition No. 7 of Chapter 71 of the ITC (HS) 2022 import policy.