India tightens silver import rules, mandates prior approval from DGFT

Government has tightened silver import norms by making a valid import authorisation from the Directorate General of Foreign Trade (DGFT) mandatory for specified import channels. According to a notification, imports of silver grains, powder, other forms and products containing 99.9% silver will now require prior approval from DGFT. This comes after the government raised silver import duties to 15%.