India restricts silver imports, hikes gold-silver duty to 15% — jewellery retailers brace for margin hit
DGFT moves silver imports for domestic use to restricted category, requiring government approval. Customs duty on gold and silver raised to 15% from 6%, platinum to 15.4%. Duty-free gold imports capped at 100 kg. Jewellery export units exempt. Hits Tanishq, Kalyan, Malabar Gold sourcing as silver imports surged 150% to $12.05 bn in FY26.
India restricts silver imports for domestic use and lifts gold-silver customs duty to 15%, pressuring jewellery retailer margins and sourcing.
Indian Express · Business · 5/16/2026, 11:58:22 PM · Ask about this →