Government of India has changed the import policy for silver bars under ITC (HS) codes 71069221 and 71069229. Earlier, importing silver bars was allowed freely under Reserve Bank of India regulations. Now, the Directorate General of Foreign Trade has marked these items as restricted.
This change means importers must get official permission before bringing silver bars into the country. The rule applies to bars containing 99.9 percent or more silver by weight and other silver bars. The amendment was issued on May 16, 2026, under the Foreign Trade Act of 1992 and the Foreign Trade Policy 2023.
The new restriction aims to control silver inflow and ensure better tracking of high-purity silver trade. It also aligns with India’s broader policy on precious metals. Traders and jewellers dealing in unwrought or semi-manufactured silver will now need to follow stricter procedures.
With this update, silver bars that were once freely importable now fall under a regulated category, marking a major shift in India’s silver trade policy.
