Simplified process for Silver Bullion Import Authorisations
DGFT Introduces a Simplified Process for Silver Bullion Import Authorisations
The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, has announced a simplified procedure for faster processing of import authorisations for specified silver items classified under ITC(HS) Chapter 71.
The measure aims to facilitate legitimate trade, reduce processing time and improve ease of doing business through a system based on self-declaration and trust.
1. Background and Scope
Following DGFT Notification Nos. 17/2026-27 dated 16 May 2026 and 19/2026-27 dated 2 June 2026, the import policy for the following silver items was changed from ‘Free’ to ‘Restricted’:
- ITC(HS) 71069110
- ITC(HS) 71069120
- ITC(HS) 71069221
- ITC(HS) 71069229
Importers must obtain the requisite import authorisation through the DGFT portal. The newly introduced simplified procedure excludes silver dore.
2. Eligibility for Expedited Processing
Applications may qualify for faster processing where the applicant submits a self-declaration confirming that the proposed imports will be undertaken by paying the generally applicable customs duty without claiming any concessional benefits.
Applications satisfying the prescribed conditions may be considered under the simplified procedure. Other applications will continue to undergo detailed scrutiny based on the applicable import policy.
3. Application Requirements
Applicants must submit their applications online through the DGFT portal and ensure that:
- All mandatory fields in the application form are completed.
- A reasoned justification is provided for the proposed import quantity and value.
- The prescribed self-declaration is furnished when expedited processing is requested.
- All information submitted is accurate and complete.
Acceptance of the declaration does not remove the applicant’s responsibility to comply with the applicable import policy and other relevant requirements.
4. Relief for Pending Applications
As a one-time facility, applicants whose applications are already pending on the DGFT portal will be allowed to revise them under the simplified procedure.
Such applications will be marked as deficient on the portal to enable applicants to make the necessary corrections, provide declarations and submit any required information. Revised applications will then be considered under the procedure specified in the Trade Notice.
5. Effective Date
The simplified processing facility may be used for fresh applications and revised pending applications submitted on or after 15 October 2026, provided they are complete and fulfil the prescribed conditions.
Eligible applications may be processed on the basis of the applicant’s self-declaration, subject to applicable policy requirements and authorisation conditions.
6. Mandatory Procurement Channels
Import authorisations issued under the simplified procedure will include a condition requiring the authorised silver items to be procured only through either of the following channels:
- India International Bullion Exchange (IIBX); or
- Nominated Banks or Agencies notified under Appendix 4B of the Foreign Trade Policy, 2023, as amended.
This requirement is intended to promote transparency, traceability and regulated channels for silver imports.
7. DGFT’s Verification Powers
The simplified process does not prevent DGFT from seeking additional information or supporting documents or conducting a detailed examination wherever necessary.
The authority may verify the declarations submitted and check compliance with the applicable import policy. Expedited processing does not exempt applicants from any statutory or regulatory obligation.
8. Validity of Import Authorisation
Import authorisations issued under this procedure will remain valid for six months from the date of issue. The validity period cannot be extended.
Conclusion
Trade Notice No. 30/2026-27 introduces a trust-based mechanism for expediting import authorisations for specified silver items, subject to self-declaration, applicable customs duty requirements and prescribed procurement channels.
Importers dealing in the covered ITC(HS) codes should review their pending or proposed applications and ensure that all documentation, declarations and policy conditions are satisfied before seeking expedited processing.
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