New Delhi: The Directorate General of Foreign Trade (DGFT) has introduced a fast-track procedure for silver bullion import authorisations, aimed at improving raw material accessibility for India's gems and jewellery industry. Issued through Trade Notice No. 30/2026-27 on 13 October 2026, the measure allows eligible importers to seek expedited approval through a self-declaration process, while maintaining existing customs duty and sourcing requirements.
The move follows earlier regulatory changes that shifted specified silver import categories from free to restricted status, requiring businesses to obtain import authorisations. The additional procedures had raised concerns among manufacturers and traders over procurement timelines, inventory planning and the availability of silver for jewellery production.
Under the revised framework, importers can apply for fast-track authorisation by submitting a self-declaration confirming that the imported silver will be cleared at the applicable standard customs duty rate without claiming concessional benefits. Applicants must also provide a written justification specifying the quantity and value of silver required. Silver doré is excluded from the expedited procedure.
The authorisation is subject to defined sourcing conditions, with silver bullion required to be procured through the India International Bullion Exchange (IIBX) or nominated banks and agencies specified under Appendix 4B of the Foreign Trade Policy 2023. Each authorisation carries a validity period of six months, which cannot be extended. DGFT also retains the authority to request additional documentation or conduct further scrutiny where necessary.
The procedural relaxation is expected to support manufacturers seeking greater predictability in raw material procurement. For jewellery production units, particularly those handling export orders and seasonal demand, timely access to silver remains important for production scheduling, inventory management and delivery commitments.
Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), welcomed the measure, describing it as an important step towards improving silver accessibility for industry members. He noted that GJEPC members holding Registration-cum-Membership Certificates (RCMCs) are recognised as Qualified Jewellers on IIBX, enabling eligible businesses to source silver through the exchange at internationally linked prices.
Bhansali also indicated that efforts are underway to secure appropriate policy recognition for IIBX in relation to silver exports, with similar measures being pursued for gold. He emphasised that the revised procedure is intended to improve operational efficiency rather than reduce procurement costs, as the applicable customs duties remain unchanged.
Ujjwal Derewala, Chairman of the Jaipur Silver Association, highlighted the importance of silver as a primary raw material for jewellery manufacturing. He said faster import authorisations could help businesses plan purchases more efficiently and reduce uncertainty in sourcing, allowing manufacturers to concentrate on production and export commitments.
While the industry has welcomed the procedural relief, smaller manufacturers and artisan-based businesses continue to face challenges under the restricted import framework. Gaurav Jain of Valentine Silver International noted that the self-declaration mechanism is a positive development but does not fully address the operational difficulties encountered by smaller enterprises.
Among the industry's recommendations is an extension of the authorisation validity period from six to twelve months, allowing businesses greater flexibility in managing international shipments and seasonal production requirements. Trade representatives have also called for clearer documentation procedures governing silver supplied to job-work units and artisan networks.
Additional suggestions include improved access to affordable working capital through public sector banks and lower transaction thresholds on bullion trading platforms, which could help smaller manufacturers participate more effectively in formal sourcing channels.
The revised DGFT procedure represents an administrative simplification rather than a relaxation of import duties or sourcing restrictions. Eligible applicants may benefit from faster processing, but they must continue to comply with the prescribed customs duty, procurement and documentation requirements.
For India's silver jewellery manufacturing industry, the measure could improve raw material planning and reduce delays associated with import approvals. Its effectiveness will depend on implementation timelines, access to authorised sourcing channels and the ability of manufacturers of different sizes to meet the applicable compliance requirements.
The development highlights the importance of balancing import regulation with operational efficiency as India's jewellery industry seeks greater supply-chain predictability and competitiveness in domestic and international markets.