Silver Import: Ever since the war between Iran and the US started, it has shaken India’s economy. The government is taking many strict steps to deal with this situation but still the public is being hit by inflation. In view of this, recently the Government of India has once again changed the rules for import of silver. These rules have now been made even more strict.

In fact, the Government of India has increased the control on import of silver and made its rules even more stringent. Now, to import silver grains, powder and silver of 99.9% purity, first permission will have to be taken from the government. For which orders have been issued on Tuesday only.

According to this order, all such importers will have to obtain valid import authorization from the Directorate General of Foreign Trade (DGFT). Without its approval these products cannot be imported.

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Changes in recent times
Last month, the government had increased the import duty on gold and silver to 15%. Its objective is to reduce non-essential imports and reduce pressure on foreign exchange reserves amid the ongoing tension in the Middle East. A rapid increase in silver imports has been seen in recent months. In April, silver imports increased by 157% on an annual basis to reach 411 million dollars. At the same time, in the financial year 2025-26, till now it has increased by about 150% to reach 12 billion dollars.

Increasing concern among silver traders
This decision of the government has created a lot of stir among silver traders also. The new rules may increase uncertainty for importers and the import process may also become a little more difficult. Due to which traders will have to bear the consequences.

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Reason for increasing strictness?
Let us tell you that India is the largest consumer of silver in the world and there has been a sharp increase in its imports in recent times. In the financial year 2025-26, India imported a record silver worth 12 billion dollars, whereas in the previous financial year this figure was 4.8 billion dollars. The government wants to control the increasing imports so that the pressure on foreign exchange reserves can be reduced. In the same direction, last month the import duty on gold and silver was also increased from 6% to 15%.