As stated by the Directorate General of Foreign Trade (DGFT), the restriction comes into effect immediately and will remain in force until April 30, 2026
Mumbai: The Government of India has tightened import controls on select platinum jewellery components by shifting them from the ‘Free’ to the ‘Restricted’ category with immediate effect. The restriction will remain in force until April 30, 2026. As stated by the Directorate General of Foreign Trade (DGFT), the import policy of platinum jewellery “is revised from Free to Restricted, with immediate effect till 30 April 2026”. Importers must now obtain a valid DGFT licence for these specific unstudded platinum jewellery items that were previously allowed without prior approval.
The move follows concerns raised by the India Bullion and Jewellers Association (IBJA), which highlighted that certain bullion dealers had been importing platinum-alloy jewellery duty-free, despite the pieces containing nearly 90% gold along with small amounts of silver and platinum. These imports were reportedly being melted after arriving at Amritsar and Delhi airports and converted into platinum bars, allowing importers to bypass the 6.4% duty applicable on platinum bars.
Daily shipments had surged to volumes comparable to annual import levels, prompting authorities to act against the misuse of the policy and prevent duty evasion.
In September, the government had imposed similar restrictions on select unstudded silver jewellery items. These controls remain in force until March 31, 2026, and require importers to secure DGFT authorization before bringing in the specified silver goods.
A sharp rise in unstudded silver jewellery imports from certain countries, including Thailand, between April and June 2025 prompted the Government’s intervention. Officials observed that significant quantities of jewellery were being imported as finished products, lowering domestic prices and affecting employment in India’s labour-intensive silver jewellery sector.
With the latest measures in place, importers of both platinum and silver jewellery covered under the revised categories must now obtain valid licences from the DGFT prior to shipment. The curbs are intended to prevent misclassification, block routing through preferential trade channels, and strengthen oversight of precious metal imports.
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