The move aims to regulate inflows, particularly from ASEAN countries, where lower duties have led to increased imports
Mumbai: New import restrictions have come into effect for silver jewellery studded with low-value diamonds, with the Government limiting such imports until June 30, 2026. The policy has been revised from free to restricted, according to a notification issued by the Directorate General of Foreign Trade (DGFT), and has taken effect immediately.
The move is aimed at regulating imports of these products, particularly from ASEAN countries, where trade agreements have enabled entry at lower duties. Industry stakeholders said that the change addresses the increase in imports of silver jewellery that may be entering the country under concessional duty structures.
According to experts, the revised policy is expected to bring greater oversight to the inflow of such jewellery, which has seen growth in recent months. By shifting the import status to restricted, the Government can monitor volumes and ensure that entries align with existing trade and tariff frameworks.
The restriction is also expected to support domestic manufacturers by limiting the entry of imported silver jewellery products that compete on pricing due to duty advantages. Industry participants noted that such measures can help create a more balanced environment for local production and trade.
The curbs will remain in place until the end of June 2026, after which the Government may review the policy based on market conditions and import trends.
With rising gold prices and cultural shifts, India has seen strong demand for silver jewellery across both urban and rural markets. But the country is heavily dependent on imports to meet its silver requirements, as domestic production remains limited. India sources silver primarily from countries such as Mexico, China, Peru and Australia, often in the form of dore or refined bullion. These imports are influenced by global price movements, currency fluctuations and industrial demand, as silver is also widely used in electronics, solar panels and other applications.
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