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Apr 2, 2026 — 2 min read

The Indian government on Thursday imposed import restrictions on all forms of articles made from gold, silver, and platinum—a move aimed at cracking down on the misuse of free trade agreements (FTAs).

The Directorate General of Foreign Trade (DGFT) stated in a notification that these restrictions apply regardless of any prior contract, irrevocable letter of credit, advance payment, shipment status, or other commitments. As a result, the benefit of transitional arrangements will not be available.

Scope of the Curbs

The revised import policy covers items under Chapter 71 of the trade classification, which includes:

• Natural or cultured pearls
• Precious or semi-precious stones
• Precious metals and metals clad with precious metal
• Articles, imitation jewellery, and coins

On April 1, the government had already announced curbs on imports of gold, platinum, and silver jewellery. With the latest notification, all jewellery imports in these metals are now restricted.

Why the Crackdown?

An industry official explained that some importers were misusing the India-ASEAN Free Trade Agreement (in force since 2010) to exploit duty differentials and circumvent tariffs. The official noted that certain traders were trying to make a “quick buck” by importing precious metals in the name of unstudded jewellery—particularly from countries like Thailand.

The move aims to curb such practices. However, the official also urged the government to simplify the licensing procedure so that genuine players are not adversely affected.

Background

• In November 2025, the government imposed import curbs on certain types of platinum jewellery until April 2026.
• In September 2025, similar curbs were placed on silver jewellery until March 2026.

With today’s notification, the restrictions have now been extended to all articles of gold, silver, and platinum with immediate effect.

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