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of <h1>India Restricts Gold and Silver Imports, Requires RBI and DGFT Approval, Exemptions for Export Orders Apply.</h1> The Government of India has amended the import policy for gold and silver under Chapter 71 of the ITC (HS), 2017, Schedule I. The policy changes the status from 'Free' to 'Restricted' for importing gold and silver in various forms, excluding monetary gold. Imports are now only permitted through nominated agencies as specified by the Reserve Bank of India (RBI) and the Directorate General of Foreign Trade (DGFT). Exemptions exist for imports under Advance Authorisation and direct supply by foreign buyers to exporters against export orders. These amendments are effective immediately with the approval of the Minister of Commerce & Industry.
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