New Delhi2 minutes ago
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The central government on Saturday imposed new restrictions on the import of three categories of silver. According to the government notification, now government permission will have to be taken to import 99.9% pure silver bar, unwrought silver (unwrought silver) or silver powder from abroad.
Earlier they could be imported easily, but now they have been put in the ‘restricted’ category. The government has taken this decision amid increasing tension in West Asia, so that better control can be maintained on the import of gold and silver.
Earlier, the government had also increased the import duty on gold and silver from 6% to 15%.
Let us understand the impact of this decision in simple questions and answers…
Question 1: What new order has the government issued regarding import of silver?
answer: The government has tightened the import rules of many categories of silver through a new notification. Till now the import of silver was in ‘free’ category, which has been changed to ‘restricted’ category.
Question 2: Which silver products will come under the purview of this ban?
answer: Under the new rules, now no company or businessman will be able to bring silver bars (silver ingots), unwrought silver (unwrought raw silver), silver powder or semi-manufactured silver directly to India.
Question 3: If someone wants to import silver to India, what will be the method now?
answer: Now, to import silver, companies will have to obtain a license from the government. Without this, custom clearance will not be available. Additionally, certain categories of silver have also been brought under the supervision of the Reserve Bank of India (RBI).
Question 4: Why did the government suddenly have to impose this ban on silver import?
answer: Its main objective is to stop the rapidly increasing import of precious metals. Due to increasing imports, the country’s import bill (import expenditure) and trade deficit (trade deficit) are increasing. The government has taken this step to control it and strengthen the rupee amid pressure from the foreign market.
Question 5: What has changed in the ‘Advance Authorization’ scheme for exporters?
answer: The Director General of Foreign Trade (DGFT) has tightened the rules for importing duty-free gold under this scheme. Now any exporter will be able to import only a maximum of 100 kg of gold on one license. It will not be allowed to order more gold than this.
Question 6: What are the rules for those who are applying for duty-free gold for the first time?
answer: Physical verification has been made mandatory for new applicants. Exporters applying for the first time will have to get their manufacturing facility or factory physically inspected before approval. The license will be issued only after the approval of the authorities.
Question 7: What are the conditions for old exporters who want repeat authorization?
answer: DGFT has also tightened the rules for repeat applicants. A new or fresh authorization will be issued only when the company has fulfilled at least 50% of the total export obligation (the amount of goods promised to be sent out) under the previous license.
Question 8: How will companies importing tax-free gold be monitored?
answer: Companies will have to report their import and export transactions every 15 days. It will be mandatory to get it certified by a Chartered Accountant (CA). The regional officer will prepare its consolidated monthly report and send it to the DGFT headquarters.
Question 9: What level has the import of gold in the country reached at present?
answer: India’s gold import has increased by more than 24% to reach a record $71.98 billion in the year 2025-26. During this period, there was a slight decrease in the quantity of gold, but due to increase in prices in the global market, the total bill increased. India imports maximum gold from Switzerland. After this comes UAE and South Africa.
Question 10: What does the jewelery industry have to say on these strict decisions of the government?
answer: Many industry bodies including All India Gems and Jewelery Council have expressed concern over this. He says that increasing import duty to 15% and banning silver can activate the grey-market (illegal trade). Due to this, there is a possibility of increase in smuggling of gold and silver and loss to honest businessmen.
Gold became costlier by 25 thousand and silver by 38 thousand this year
This year, there are continuous fluctuations in the prices of gold and silver. So far in 2026, gold has become costlier by Rs 25,015 and silver by Rs 38,080. On December 31, 2025, 10g gold was at Rs 1.33 lakh, which has now reached Rs 1.58 lakh.
At the same time, silver was Rs 2.30 lakh per kg, which has now reached Rs 2.69 lakh. During this period, on January 29, gold had made an all-time high of Rs 1.76 lakh and silver had also made an all-time high of Rs 3.86 lakh.
PM appealed not to buy gold for a year
The Prime Minister said, ‘There was a time when people used to donate gold in the interest of the country when there was a crisis. There is no need for donations today, but in the interest of the country, we have to decide that we will not buy gold jewelery if there is any program at home for the whole year. Our patriotism is challenging us to save foreign exchange and we have to accept this and save foreign exchange.
why say so: PM Modi made this appeal to save India’s foreign exchange reserves. India buys about 99% of its gold consumption from abroad. This import bill of gold in 2025-26 was about Rs 6.4 lakh crore. Gold is at second place with 9% share in the total expenditure on goods purchased from abroad.
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Read this news also…
Gold became expensive by ₹ 9,345 and silver by ₹ 22,853: Effect of increasing import duty from 6% to 15%, PM had said 3 days ago – do not buy gold.
The Central Government has increased the duty on import of gold and silver from 6% to 15%. After this order issued on Wednesday, today i.e. on May 13, gold has become costlier by Rs 9 thousand and silver by Rs 22 thousand in the bullion market.
The price of 10 grams of gold has increased by ₹ 9,345 to Rs 1,60,977 and the price of 1 kg silver has increased by ₹ 22,853 to Rs 2,87,720. The aim of the government is to reduce foreign purchases and reduce the pressure on the country’s foreign exchange reserves. The government has taken this decision amid the US-Iran war. Read the full news…
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