Govt Restricts Precious Metal Imports, Mandates RBI-Nominated Agencies and IIBX for Gold, Silver, Platinum Trading

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....The GoI's DGFT issued Notification No. 08/2025-26 amending import policies for precious metals under Chapter 71 of ITC (HS) 2022, aligned with Finance Act 2025. The amendments modify import regulations for silver, gold, and platinum, introducing restricted import status for specific high-purity metal categories. Imports are now permitted exclusively through RBI-nominated agencies, DGFT-notified entities, and qualified jewellers via India International Bullion Exchange (IIBX), with additional provisions for India-UAE Trade Quota (TRQ) holders. The changes take immediate effect, streamlining and controlling precious metal import mechanisms through regulated channels.....