Gold Import India: New Import Rules for Precious Metals in India
The Government of India has revised the import regulations for precious metals such as gold, silver, and platinum. On May 19, under the Finance Act 2025, the Directorate General of Foreign Trade (DGFT) issued a notification categorizing these metals as “restricted” items for import.
A Step to Curb Smuggling
This decision aims to better regulate the import of precious metals, prevent misuse, standardize HS codes, and enhance transparency in the import process. The notification outlines who is allowed to import these metals and under what conditions.
Importing Pure Gold Now Requires Government Permission
Importing gold and silver from abroad has become more regulated. Previously, certain types of gold could be imported easily. However, under the new rules, gold with a purity of 99.5% or higher is now classified as “restricted.” This means importers must obtain special permission from the government. These rules apply to gold under HS codes 71081210 and 71081310.
Only agencies authorized by the Reserve Bank of India (RBI) or DGFT can import this type of gold. Additionally, certified jewelers recognized by the International Financial Services Centres Authority (IFSCA) may place orders, but only through the India International Bullion Exchange (IIBX).
Tighter Rules for Silver Imports
Like gold, silver imports will also be more strictly regulated. Silver with 99.9% or higher purity, which was previously easy to import, is now also restricted. It can only be ordered through IIBX by RBI-nominated banks, DGFT-authorized agencies, or IFSCA-approved jewelers.
Some specific types of finished silver (e.g., under HS codes 71069221 and 71069229) remain more accessible but are still subject to RBI regulations.
Changes to Platinum Import Rules
Platinum imports have also been revised. Ultra-pure platinum with 99.9% or higher purity can still be freely imported under HS codes 711011111 and 71101121. However, other forms of platinum are now “restricted” and require government approval.
These changes aim to streamline the import process and prevent the misuse of HS codes.