India restricts silver imports to support rupee and cut import bill
India has imposed restrictions on silver imports to support the weakening rupee and reduce the trade deficit. The Directorate General of Foreign Trade has moved most silver imports to 'restricted' status, requiring government licenses. This decision follows a significant surge in silver import values, which increased by 150% in the last fiscal year.
- ▪India's silver imports have been moved from 'free' to 'restricted' status, necessitating government licenses for importers.
- ▪Customs duties on precious metals have increased from 6% to 15%, leading to an effective tax burden exceeding 18% on imported silver.
- ▪The country imported approximately $12 billion worth of silver in the fiscal year ending March 2026.
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<img src="https://static.cryptobriefing.com/wp-content/uploads/2026/05/16190947/indian-rupee-opens-8-paise-higher-at-85-44-as-oil-dollar-ret-1-800x420.jpeg" alt="India restricts silver imports to support rupee and cut import bill" class="w-full aspect-[19/10] object-cover" /> India restricts silver imports to support rupee and cut import bill New Delhi shifts most silver imports to 'restricted' status, requiring government licenses, after a 150% surge in import value pushed the country's trade deficit wider. Share Add us on Google by Editorial Team May. 16, 2026 India just made it significantly harder to bring silver into the country.
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