New Delhi: The government on Wednesday imposed import restrictions on plain silver jewellery until March 31, 2026, according to an official notification.
The move aims to curb the misuse of free trade agreements (FTAs) and address the large-scale imports of silver disguised as finished jewellery. The Directorate General of Foreign Trade (DGFT) announced that the import policy for plain silver jewellery has been amended from free to restricted with immediate effect, lasting until March 31, 2026.
Under this restriction, imports of plain silver jewellery will require a licence from the government.
The restrictions have been introduced in response to a steep rise in imports of plain silver jewellery availing preferential duty exemptions during the period from April-June 2024-25 to April-June 2025-26. Officials stated that these imports, circumventing FTA provisions, have adversely affected domestic manufacturers and pose challenges to employment within the jewellery sector.
The government believes this decision will help create a level-playing field for India’s jewellery manufacturers, safeguard the interests of small and medium enterprises, and protect livelihood opportunities for workers in the sector.
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https://www.freepressjournal.in/business/government-imposes-import-restrictions-on-plain-silver-jewellery-till-march-31-next-year
