By Admin 
Silver Bar News: The government is making new rules every day regarding gold and silver. First the government increased the import duty on gold and silver, now the government has taken a big decision on silver trade. The central government has imposed another strictness on the import of silver. Know what is the new rule.
The Directorate General of Foreign Trade (DGFT) has today removed two codes of silver bars i.e. bricks 71069221 and 71069229 from the free category and put them in the prohibited category. Meaning, now no businessman can directly import silver bricks from outside.
Now silver will come only through three routes
- Reserve Bank of India i.e. designated bank of RBI
- Designated Agencies of DGFT
- Or qualified jewelers approved by International Financial Services Center Authority i.e. IFSCA, who will import through India International Bullion Exchange (IIBX).
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The decision has been implemented immediately
Let us tell you that this decision has come into effect immediately. This step has come at a time when just four days ago the government had increased the import duty on gold and silver from 6 percent to 15 percent.
It is noteworthy that in the year 2025, India had ordered silver worth 9.2 billion dollars, which is 44 percent more than 2024. The price of silver has also increased almost three times in a year and has crossed Rs 2.43 lakh per kg.
Government wants to reduce silver import by all means
Trade deficit is also at a record of 333 billion dollars and there is huge pressure on the rupee. This is the reason why the government wants to reduce the import of silver in every way. Last week, Prime Minister Narendra Modi had appealed to the countrymen not to buy gold for a year, so that the expenditure of foreign exchange could be stopped.
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