The Directorate Basic of International Commerce (DGFT), below the Ministry of Commerce and Business, on Wednesday mentioned it has imposed recent restrictions on the import of plain silver jewelry to curb misuse of Free Commerce Agreements (FTAs). The transfer coincides with a report surge within the worth of valuable metals amid rising world uncertainty. Gold and silver costs hit recent report highs on September 22.
“DGFT has notified recent restrictions on the import of plain silver jewelry below Customs Tariff Heading (CTH) 7113. The transfer goals to curb misuse of FTAs and tackle large-scale imports of silver within the guise of completed jewelry,” the ministry mentioned.
Based on the DGFT, the restrictions have been launched within the wake of a steep rise in imports of plain silver jewelry availing preferential responsibility exemptions between April–June 2024-25 and April–June 2025-26. Such imports, circumventing FTA provisions, had been adversely affecting home producers and posing a problem to employment within the jewelry sector, the ministry mentioned.
“Beneath the brand new framework, import of plain silver jewelry falling below CTH 7113 will now be permitted solely towards a legitimate import authorisation issued by DGFT. This measure is designed to strike a stability between facilitating real commerce and stopping unfair practices by sure importers exploiting FTA provisions,” the ministry mentioned.
The federal government believes that the choice will present a stage taking part in discipline for India’s jewelry producers, safeguard the pursuits of small and medium companies, and safe livelihood alternatives for employees within the sector.
In the meantime, Gem & Jewelry Export Promotion Council (GJEPC) chairman Kirit Bhansali met Finance Minister Nirmala Sitharaman on Wednesday to hunt pressing aid measures for the gem and jewelry sector, which has been severely impacted by the latest 50 per cent tariff imposed by america.
“We’re happy that India–US commerce discussions have resumed, which is encouraging information. Nevertheless, the method could take time, and till a decision is achieved, it’s important to introduce aid measures to assist the sector survive and maintain employment,” Bhansali mentioned.
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GJEPC mentioned it has requested additional interventions from the federal government to assist the sector survive and maintain employment till the continued India–US commerce negotiations are concluded. “These embrace measures corresponding to permitting reverse job work and DTA gross sales by SEZ models, extending export obligation intervals for US shipments, offering an curiosity moratorium on packing credit score and dealing capital loans, and providing liquidity help to exporters,” the council mentioned.
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