India imposes import curbs on silver shortly after increasing customs duties on precious metals. According to reports, the government raises the import duty on silver from 6% to 15% on May 13. Within about a week, the Directorate General of Foreign Trade (DGFT) issues a notification introducing import restrictions on silver, as described by multiple outlets. NDTV and Business Standard say the curbs are imposed only days after the duty hike, following a sharp rise in silver imports. Deccan Chronicle similarly links the move to the May 13 increase in duty, though details of the specific curbs are not provided in the excerpts. Together, the reports indicate that the government responds to changing import volumes and higher costs by combining a higher duty with additional trade measures through DGFT. The notifications are presented as part of a broader effort to manage silver inflows after shipments increase.
India imposes import curbs on silver days after raising import duty
India imposes import curbs on silver shortly after increasing customs duties on precious metals. According to reports, the government raises the import duty on silver from 6% to 15% on May 13. Within...
- India increases customs duty on precious metals, including silver, from 6% to 15% on May 13.
- DGFT issues a notification imposing import curbs on silver after the duty hike.
- The import curbs are introduced within about a week of the duty increase.
- Multiple reports link the curbs to a sharp rise in silver imports.
- The measures are presented as consecutive policy steps: duty hike followed by DGFT restrictions.
Within days of levying high customs duties on precious metals, the government on Saturday imposed import curbs on silver.
3 months agohe government, on May 13, hiked import duty on precious metals from 6 per cent to 15 per cent.
3 months agoThe notification from the DGFT comes within a week of the government raising the duty on the import of the precious metal to 15 per cent from 6 per cent
3 months ago
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