Key facts
- India now requires DGFT approval for all silver imports.
- Approval is mandatory for silver imported via banks and agencies.
- DGFT approval is also required for imports through the India International Bullion Exchange.
India has introduced stricter regulations governing the import of silver. Under the new rules, any import of silver, whether routed through domestic banks and agencies or via the India International Bullion Exchange, will now require explicit approval from the Directorate General of Foreign Trade (DGFT). This move signifies a tightening of controls over the flow of silver into the country.