By Admin 
Gold Silver Price: Akshaya Tritiya is on 20th April, hence there is a lot of activity in the gold and silver markets for the last few days. Meanwhile, a big update is also coming out regarding the import of gold and silver in India. There are reports that India has currently banned the import of gold and silver. Due to this news, the festival of Akshaya Tritiya seems to be in trouble.
Gold and silver stuck in customs
In fact, Indian banks have temporarily banned orders for gold and silver imported from abroad. This step has been taken at a time when there is delay on the part of the government regarding this. This will affect the domestic market as well as India’s economy. The order from the government is currently pending due to which 5 tonnes of gold and 8 tonnes of silver are stuck in customs.
Global market will be affected
Due to this ban, the global gold and silver markets can also have a big impact. India is a big and major consumer of gold and silver, hence due to lack of demand from here, prices may fall at the international level. However, it can also help in reducing India’s trade deficit and strengthening the rupee. Which has been one of the weakest currencies of Asia this year.
Why was the import stopped?
The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry usually issues an order at the beginning of every financial year. This order contains the list of banks authorized by the Reserve Bank of India to import gold and silver. Before this, a similar order was issued in the year 2025, which was valid till 31 March 2026. Banks are now waiting for new instructions from DGFT.
Crisis on Akshaya Tritiya
Due to this stoppage of imports and stranding of gold and silver, a huge crisis is looming on Akshaya Tritiya. If the situation continues like this, the prices of both these metals will increase on Akshaya Tritiya, which will not only put pressure on the market but will also affect people’s pockets.