Notification No. 19/2026-27, Dated 02-06-2026
The Directorate General of Foreign Trade (DGFT) has issued a notification amending the import policy conditions applicable to specified silver products covered under Chapter 71 of ITC (HS), 2022.
The amendment mandates the obtaining of a valid Import Authorisation from the DGFT for imports of specified silver products through designated import channels.
1. Silver Products Covered Under the Revised Policy
The revised import policy applies to silver products covered under the following ITC (HS) Codes:
-
- 71061000
- 71069110
- 71069120
- 71069190
Imports of these specified silver products shall now be subject to the amended authorisation requirements.
2. Import Authorisation Mandatory for Nominated Agencies
Under the revised policy conditions, imports undertaken through:
-
- RBI-notified nominated agencies in the case of banks; and
- Agencies notified by the DGFT in other cases
shall be permitted only against a valid Import Authorisation issued by the DGFT.
Accordingly, importers using these channels must secure the prescribed authorisation before undertaking imports.
3. Requirement Extended to Qualified Jewellers Through IIBX
The notification further provides that imports undertaken by:
-
- Qualified jewellers notified by the International Financial Services Centres Authority (IFSCA)
through the:
-
- India International Bullion Exchange (IIBX)
shall also require a valid Import Authorisation issued by the DGFT, wherever such imports are otherwise permitted under the applicable framework.
4. Existing Provision for Silver Dore Continues
The DGFT has clarified that the existing provision relating to import of silver dore remains unchanged.
Accordingly, refineries may continue to import silver dore:
-
- Against a licence; and
- Subject to the Actual User (AU) condition
as provided under the existing policy framework.
5. Immediate Effect of the Amendment
The revised import policy conditions have come into effect immediately.
Importers of the specified silver products are therefore required to obtain the necessary Import Authorisation prior to importation from the date of issuance of the notification.
6. Objective of the Notification
The amendment seeks to strengthen regulatory oversight and monitoring of silver imports by introducing a prior authorisation requirement for specified categories of silver products.
By mandating DGFT-issued Import Authorisations for imports through nominated agencies and qualified jewellers, the Government aims to improve transparency, ensure better import control and facilitate effective administration of precious metal imports under the Foreign Trade Policy framework.
