The Directorate General of Foreign Trade (DGFT) has introduced a simplified procedure for expediting import authorisations for silver bullion, enabling eligible applicants to access silver through regulated channels with reduced processing time.
Under Trade Notice No. 30/2026-27, dated 13 October 2026, applications for silver items covered under specified ITC(HS) codes may qualify for expedited processing if applicants declare that imports will be made at the generally applicable customs duty rate, without claiming concessions. The procedure excludes silver dore and requires applicants to submit a justification for the quantity and value of imports sought.
Authorisations will carry a condition that silver be procured only through the India International Bullion Exchange (IIBX) or Nominated Banks/Agencies notified under Appendix 4B of Foreign Trade Policy, 2023, to ensure transparency and traceability. Each authorisation will be valid for six months and cannot be extended. DGFT has reserved the right to seek further information and scrutinise any application.
Welcoming the development, Kirit Bhansali, Chairman, GJEPC, said, “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. 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.”
“We are also working to get IIBX notified under the policy for silver exports, and we are hopeful of achieving this soon. Similar measures are being pursued for gold. The progress on silver will also strengthen our case for gold and other restricted HS codes,” Bhansali added.
The move is expected to improve ease of doing business for eligible importers while maintaining transparency and traceability through regulated procurement channels.