India curbs silver bar imports, mandates licence after steep duty hike
Government tightens silver bullion inflows via authorisation regime, layered atop a sharp import duty increase. Aimed at trade deficit and rupee defence, the move squeezes sourcing for jewellery and silverware retailers — Tanishq, Kalyan, Malabar — that rely on imported bars, with margin pressure likely ahead of wedding-season demand.
India restricts silver bar imports, mandating government authorization following a steep duty hike. Move targets trade deficit and currency stability but raises sourcing costs for jewelry retailers and silverware brands reliant on imported bullion.
Also reported by
- The Hindu BusinessLine — Same time