DGFT tightens silver import norms, jewellery retailers face sourcing squeeze
DGFT now mandates import authorisation for silver grains, powder and other 99.9% purity forms, closing a loophole used to bypass duties. Move pressures jewellery chains like Tanishq, Kalyan and Malabar that rely on imported silver inputs amid surging bullion shipments.
DGFT mandates import authorisation for silver grains, powder and other forms with 99.9% purity, tightening bullion imports. Move aims to curb surging gold/silver imports, affecting jewellery retailers like Tanishq, Kalyan, Malabar reliant on silver sourcing.
Why this matters
Tightening follows DGFT's earlier shift of silver imports to the restricted list and the 15% duty hike, signalling a sustained crackdown on duty-bypass routes as inbound silver hits $12B.
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