Government Tightens Import Rules on Silver Jewellery

The government has imposed new restrictions on the import of silver jewelry studded with inexpensive diamonds, effective immediately until June 30, 2026. The Directorate General of Foreign Trade announced this move on Monday, signaling a shift in policy from ‘free’ to ‘restricted’ imports for these items.

This decision is strategically aimed at curbing the influx of silver from countries within the ASEAN bloc. Industry experts believe this could have significant implications for trade dynamics and domestic markets.

The government’s notification underscores an intent to re-balance trade and potentially protect local industries. As the policy comes into effect, stakeholders are expected to adapt to the new import landscape and its ramifications on trade activities.