India Restricts Silver Jewellery Imports — What Changed and How Jewellers Adapted
In September 2025, India changed the rules for importing silver jewellery. The headlines called it a "ban", but the change was narrower than that, and it is worth being exact about what it covered, who it affected and how the trade adjusted.
Updated October 2026 with what was reported, what came next, and how we kept supplying.
What changed
On 24 and 25 September 2025, the Directorate General of Foreign Trade (DGFT) changed the import policy for plain, unstudded silver jewellery from "free" to "restricted", with immediate effect.
| What was reported | |
|---|---|
| Authority | Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry |
| Product | Plain (unstudded) silver jewellery |
| Change | Import policy moved from free to restricted |
| Effect | Immediate |
| Until | 31 March 2026 |
| What importers needed | A government licence |
| Reason given | Imports under free trade agreement provisions had risen sharply and were being used to bring in silver in the form of finished jewellery, which hurt domestic manufacturers and small businesses |
One report also gave the scale of the concern: silver jewellery imports from Thailand reportedly rose from about 4 tonnes to about 40 tonnes in recent months, and Thailand's share of these imports reportedly rose from 78% to 98%. Other reports did not repeat those figures, so treat them as reported.
What it did not do
- It was not a ban on all silver. The restriction concerned imports of plain silver jewellery, and importing it needed a licence.
- It did not restrict making or selling jewellery within India. The rule concerned imports.
- It was time-limited as announced: until 31 March 2026. We have not confirmed what happened to it after that date, so please check the current DGFT notices before you plan an import.
A second change in May 2026
On 16 May 2026, DGFT moved silver bars of 99.9% purity or more (ITC HS codes 71069221 and 71069229) from "free" to "restricted", also with immediate effect, under Policy Condition No. 7 of Chapter 71. Importers need government authorisation. This concerns raw silver, so it is likely to matter more to manufacturers and refiners than to a jeweller who buys finished pieces.
What it meant for jewellers
For businesses that bought imported jewellery in volume, the change had a few practical effects:
- Sourcing options narrowed. Buying plain silver jewellery from overseas now needed a licence.
- Planning became harder. Importers had to rethink how much to hold and from whom to buy.
- Buyers had good reason to ask where stock comes from and whether supply will continue.
What jewellers can do when import rules change
The next change may not look like this one, so these habits help in any case:
- Ask your supplier how they source. Where does the stock come from, and does supply depend on a single route?
- Check the supplier's stock position, not only the price, before a big order.
- Spread your sourcing across more than one supplier, so a change in one route does not stop your shop.
- Plan your inventory around the fast movers, and quote with a validity date, as our guide to silver price swings explains.
- Follow official notices. DGFT and the Gem and Jewellery Export Promotion Council (GJEPC) publish policy changes.
How GlamBug kept supplying
We did not stop supplying. In our own experience:
- We held international stock from before the restriction, so our catalogue stayed stocked while the rules changed.
- We work with long-term suppliers in Italy, Turkey and Hong Kong, relationships that were in place long before the restriction.
- Supply to our buyers continued without a break.
- Prices stayed stable for buyers.
The same applies to what you see in the B2B app: every product shows its weight and your per-gram rate, and stock shows live, so you can check availability yourself. If you want to talk through a larger order, a video call takes about 30 minutes.
Frequently asked questions
Did India ban silver imports?
No. In September 2025 the government restricted the import of plain, unstudded silver jewellery, so that a licence was needed, and in May 2026 it restricted 99.9% silver bars in the same way. Those notices named specific products. They were not a general ban.
Does it affect jewellery made in India?
It does not restrict making or selling jewellery within India. It concerns imports.
Is the restriction still in force?
It was announced until 31 March 2026. We have not confirmed whether it was extended, so please check the latest DGFT notices.
Was the restriction permanent?
As announced, it was time-limited.
Sources
The summary above is based on these public reports, which describe the notifications. They are secondary sources, so please check the notification text itself on the DGFT website before you act on any import decision.
- Trading Economics: India restricts silver jewellery imports till March 2026
- Business Today: Govt restricts plain silver jewellery imports till March 2026
- LiveLaw: Centre restricts import of certain semi-manufactured silver bars with immediate effect
This is general information, not legal or trade advice.
Talk to us
Read more about wholesale 925 silver jewellery, or message us on WhatsApp at +91 72079 01555, Monday to Saturday, 10am to 8pm.