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Centre shifts silver bar imports to 'Restricted' list, jewellery retailers face supply squeeze
Our read
Lock in licensed silver bar suppliers immediately and reprice silver-heavy SKUs to protect margins as DGFT's restriction stacks on top of the 15% duty hike.
The report,
India has shifted silver bar imports (HS 71069221, 71069229) from 'Free' to 'Restricted' effective immediately, subject to Policy Condition 7. The move follows a 15% duty hike on precious metals and a 100-kg cap on duty-free gold imports, impacting jewellery retailers.
Reported figures
From the report. Source details below
- 99.9%
Why it matters to operators
Restricted-list status creates a window to acquire or partner with smaller jewellers lacking import licences, while scouting domestic refining tie-ups to secure compliant silver supply.
The source
Published
First seen