India offers faster silver import licences from Oct. 15, 2026, to importers who promise to pay full customs duty.
India’s Directorate General of Foreign Trade (DGFT) has set a faster licence route for silver bullion imports, for applications filed from Oct. 15, 2026.
The change comes in Trade Notice No. 30/2026-27, dated Oct. 13, 20261. It covers silver grains and silver bars that India moved from free import to licensed import earlier this year1.
In short, an importer who promises to pay the full, normal customs duty can get a silver import licence faster. The silver must then be bought only through India’s bullion exchange or through approved banks and agencies.
Why does silver bullion need a DGFT licence?
Until May 2026, silver bars entered India as "Free" goods. No DGFT licence was needed, subject only to rules of the Reserve Bank of India (RBI), the central bank2.
How silver imports were tightened, then eased
Notification No. 17/2026-27, dated May 16, 2026, changed silver bars from "Free" to "Restricted"1. A "Restricted" item can only be imported with an import authorisation, a licence issued by the DGFT. The May notification covered two lines: bars containing 99.9% or more silver by weight, and other silver bars2. The change applied with immediate effect2.
Notification No. 19/2026-27 followed on June 2, 20263. It changed the import conditions for silver powder, silver grains, unwrought silver of 99.9% purity or more, and other unwrought silver3. From then on, imports by nominated agencies and qualified jewellers were permitted only against a valid Import Authorisation issued by the DGFT3.
Which silver goods does the faster route cover?
The trade notice lists four silver tariff lines under heading 7106 of India’s import schedule1. These are the items whose import status moved from "Free" to "Restricted"1:
- 71069110: unwrought silver in grains3.
- 71069120: unwrought silver containing 99.9% or more silver by weight3.
- 71069221: silver bars containing 99.9% or more silver by weight2.
- 71069229: other silver bars2.
The faster route does not cover silver dore, the partly refined silver that refineries buy as raw material1. Under the June notification, refineries import silver dore against a licence with an "AU condition"3. Silver powder, code 71061000, is not among the four codes listed in the trade notice1.
What is the self-declaration for silver imports?
The new route rests on trust. The DGFT describes it as a procedure "based on self-declaration and trust"1. Its stated aim is to cut processing time for genuine applicants and to make trade easier1.
Two routes to a silver import licence
| Question | Faster route | Normal route |
|---|---|---|
| Who uses it | Applicants paying full customs duty | All other applicants |
| Duty concessions | None claimed | May be sought |
| How DGFT checks | Accepts the self-declaration | Detailed scrutiny on merits |
An applicant who wants the faster route must sign a self-declaration on customs duty1. It must state that the silver will be imported on payment of customs duty at the generally applicable rate1. The importer also promises not to claim any duty concession1.
The DGFT accepts the information in the application on the basis of this declaration1. The applicant remains responsible for the correctness and completeness of what it files1. Applications without the declaration go through detailed scrutiny and are examined on their merits under the normal policy rules1.
How does an importer apply for a silver licence?
All applications go through the DGFT online portal1. The trade notice sets out what each applicant must do:
- Fill in every mandatory field in the online application form1.
- Give a reasoned justification for the quantity and value of silver it wants to import1.
- For the faster route, attach the self-declaration in the prescribed manner1.
Applying on the DGFT portal
An application must be complete and meet every condition of the trade notice to qualify1. The DGFT then issues the licence on the basis of the declaration, subject to policy rules and the conditions of the licence1.
Where must the silver be bought?
Every licence issued under the faster route carries a sourcing condition1. The silver may be bought only through the India International Bullion Exchange (IIBX)1. The other permitted channel is the nominated banks and agencies listed in Appendix 4B of the Foreign Trade Policy, 20231.
The DGFT gives its reason for this condition. It wants these imports to move through regulated routes, with better transparency and traceability of each deal1.
This matches the earlier rules. The June notification already limited imports to agencies nominated by the RBI or the DGFT, and to qualified jewellers buying through the IIBX3. Those jewellers are named by the International Financial Services Centres Authority (IFSCA), the regulator of India’s international finance centre3.
How long is a silver import licence valid?
A licence issued under the trade notice is valid for six months from the date of issue1. It cannot be extended1.
For a buyer, this sets a firm window. Silver not brought in within six months would need a new licence.
What happens to applications already pending?
The DGFT is giving existing applicants a one-time chance to switch to the faster route1. Applications now pending on the portal will be marked as deficient1. This status lets the applicant reopen the file, make changes and add the self-declaration where needed1.
The revised applications will then be processed under the new procedure1. Fresh and revised applications filed on or after Oct. 15, 2026 can be handled under the faster route, if they are complete1.
The "deficient" mark does not mean an application was refused. It is the way the portal hands the file back to the applicant for revision1.
Can the DGFT still check an application?
Yes. The trade notice keeps the DGFT’s right to ask for more information or documents1. It can also carry out a detailed check of any application where it thinks this is needed1. The purpose is to verify the declarations and make sure the policy rules are followed1.
The faster route also does not remove any legal or policy requirement1. An importer on the faster route still needs a valid licence, and still pays full duty under its declaration.
Who is affected by the silver licence change?
The trade notice is addressed to all importers and to trade and industry associations1. In practice, several groups will see a change:
- Bullion importers and nominated agencies that pay full duty can expect faster decisions, once they file the declaration.
- Importers seeking duty concessions stay on the slower route, with detailed scrutiny of each file1.
- Qualified jewellers buying through the IIBX still need a DGFT licence, as set by the June notification3.
- Silver refineries importing silver dore are outside the faster route1.
Foreign sellers of silver bars and grains will see Indian buyers channel purchases through the IIBX or approved banks and agencies1.
Key points on India’s silver import licences
The table sums up the new DGFT procedure for silver bullion.
| Question | Answer |
|---|---|
| What changed? | A faster licence route for silver imports |
| Who issued it? | Directorate General of Foreign Trade (DGFT) |
| Which document? | Trade Notice No. 30/2026-27 |
| Date of notice | Oct. 13, 2026 |
| Which goods? | Silver grains, unwrought silver and silver bars |
| Tariff codes | 71069110, 71069120, 71069221, 71069229 |
| What is excluded? | Silver dore |
| Key condition | Self-declaration to pay full customs duty |
| Where to buy | IIBX or nominated banks and agencies |
| Licence validity | Six months, no extension |
| Start date | Applications on or after Oct. 15, 2026 |
| Pending files | Marked deficient for one-time revision |
From Oct. 15, 2026, importers who pay full duty can file a self-declaration for faster silver licences1. Each licence will last six months and requires buying through the IIBX or approved banks and agencies1.
Sources
- ↩ DGFT-issued-a-notification-regarding-a-simplified-procedure-for-expedited-issuance-of-import-authorisations-for-silver-bullion-under-ITCHS-7106-October142026.pdf https://avantiscdnprodstorage.blob.core.windows.net/legalupdatedocs/60372/DGFT-issued-a-notification-regarding-a-simplified-procedure-for-expedited-issuance-of-import-authorisations-for-silver-bullion-under-ITCHS-7106-October142026.pdf
- ↩ Notification no. 17.pdf https://content.dgft.gov.in/Website/dgftprod/fc379316-ddbe-408b-b567-f8a4cf405a2d/Notification%20no.%2017.pdf
- ↩ English_0002.pdf https://content.dgft.gov.in/Website/dgftprod/b9d85c14-fc0e-4b34-8eb8-3f60fd9775f9/English_0002.pdf