DGFT Notification 17/2026-27 — Immediate Effect
Silver Bar Imports Moved from “Free” to “Restricted” under HS 71069221 & 71069229
The Directorate General of Foreign Trade (DGFT) has amended the import policy for silver bars under Chapter 71 of ITC (HS) 2022, Schedule – I. With effect from 16 May 2026, imports of silver bars (99.9% purity and other bars) are no longer freely importable and now require authorization under Policy Condition No. 7 of Chapter 71.
At a Glance
What the Notification Changes
Through Notification No. 17/2026-27 dated 16 May 2026, the Central Government has exercised its powers under Section 3 and Section 5 of the Foreign Trade (Development & Regulation) Act, 1992, read with paragraphs 1.02 and 2.01 of the Foreign Trade Policy, 2023, to amend the import policy of silver bars covered under ITC (HS) codes 71069221 and 71069229. The import status has been changed from “Free” (subject to RBI regulations) to “Restricted” (subject to Policy Condition No. 7 of Chapter 71) with immediate effect.
Scope — Items Covered
HS Codes Affected by the Amendment
Silver bars containing 99.9% or more by weight of silver
Silver bars — Other (below 99.9% purity)
Silver, including silver plated with gold or platinum, in unwrought, semi-manufactured or powder form
Policy Position
Before vs. After the Amendment
Earlier Position
Free Imports under RBI Regulations
Silver bars under HS 71069221 and 71069229 were freely importable, subject only to applicable RBI regulations governing bullion imports. No DGFT authorization was required for ordinary importers meeting RBI’s prescribed channels.
Revised Position
Restricted — Authorization Required
Imports are now “Restricted” and subject to Policy Condition No. 7 of Chapter 71 of ITC (HS), 2022, Schedule – I. Importers must obtain prior authorization from DGFT in line with the channels prescribed under that policy condition.
Key Dates
Notification Timeline
Who Is Affected
Implications for the Trade
Impact 01
Bullion Importers & Banks
Nominated agencies and bullion importers who previously imported silver bars under the “Free” route must now align with the Restricted regime and obtain DGFT authorization before booking new consignments.
Impact 02
Jewellery & Silverware Manufacturers
Manufacturers relying on imported silver bars as raw material will need to plan procurement around the authorization process, with potential implications for lead times and inventory cycles.
Impact 03
Traders & Refiners
Traders importing silver bars for the domestic market or for further refining will need to reassess sourcing strategies and ensure that import documentation, end-use declarations and channel compliance match the revised policy.
Impact 04
Goods Already in Transit
Since the change is effective immediately, importers with consignments in transit or pending clearance should review contractual and documentary positions and engage with DGFT and Customs on the treatment of such shipments.
Compliance Pathway
What “Restricted” Means in Practice
An item listed as “Restricted” in ITC (HS) Schedule – I cannot be imported freely. Importers must apply for and obtain a specific import authorization from DGFT, subject to the conditions attached to the relevant policy condition — in this case, Policy Condition No. 7 of Chapter 71. Typical compliance steps include:
Strategic Implications
Regulatory
Silver bar imports now sit firmly within DGFT’s licensing regime. Compliance, documentation and end-use control take on much greater importance for every importer.
Commercial
Procurement cycles, pricing and inventory planning for bullion users will need to absorb the additional lead time and approval risk that comes with a Restricted regime.
Strategic
The move signals a more calibrated approach to bullion imports and may encourage greater channel discipline, domestic refining and traceable sourcing across the silver value chain.
How Omega QMS Can Help
Advisory & Authorization Support for Silver Importers
Omega QMS works with bullion importers, jewellery manufacturers, refiners and trading houses to navigate India’s evolving import policy environment. For this notification, our team supports clients across the full lifecycle — from interpretation of the policy text to securing DGFT authorizations and aligning downstream compliance.
Omega QMS — Trusted Regulatory Partner
Deep experience with DGFT, BIS, PESO, RBI and Customs procedures
End-to-end support on import authorizations and notifications under ITC (HS)
Practical, execution-oriented guidance tailored to each importer’s business model
Continuous monitoring of DGFT notifications, public notices and trade circulars
Key Insight
A single line in a DGFT notification — “Free” becoming “Restricted” — can reshape sourcing strategy, working capital and contractual exposure for an entire industry overnight. The cost of being unprepared is almost always higher than the cost of getting compliance right at the start.
Reference
DGFT Notification No. 17/2026-27 dated 16 May 2026, F. No. 01/89/180/36/AM-11/PC-2[A]/Part-VI/E-34691, issued under the signature of Shri Lav Agarwal, Director General of Foreign Trade & Ex-officio Additional Secretary, Ministry of Commerce and Industry, Department of Commerce. Gazette reference: CG-DL-E-16052026-272636, Part II – Section 3 – Sub-section (ii), No. 2445, New Delhi, Saturday, 16 May 2026.
Need help navigating the new silver import regime?
Omega QMS supports importers, manufacturers and trading houses with DGFT authorizations, classification reviews and end-to-end compliance for restricted items. Write to us at info@globalomega.com, call us at 011-41413939 (100 lines), or visit globalomega.com/contact for a tailored advisory on this notification.