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Arnold Thomas

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Published on: Jul 30, 2026

Import Policy of Gold and Silver

The Ministry of Commerce and Industry, with its power conferred under Section 3 of the Foreign Trade (Development & Regulation) Act, 1992, has modified Chapter 71 of ITC (HS), 2017, to import Gold and silver. The

Amendment, which came into effect on 18th December 2019, changed the items listed gold and silver items, other than the monetary Gold and silver, from ‘Free’ to ‘Restricted.’

Conditions in Chapter 71

A mixture containing precious metal and the intermetallic compound constitutes an alloy of precious metal, with one precious metal element holding the weight of up to 2% of the alloy. The classification of special metal alloys is done with the following rules:

  • An alloy comprising 2% or more, by weight, of platinum is to be considered an alloy of platinum.
  • An alloy with 2% or more weight of Gold without platinum or less than 2% of platinum is taken as an alloy of Gold.
  • An alloy of more than 2% weight of silver is considered a silver alloy.

Revised Rule

The list of items and their related Amendment under Chapter 71 of ITC is as follows:

  • The Code Specifying the Item - 7106 1000 specifies the silver, plated with Gold or platinum in the form of Powder.
  • The existing Import policy states a free import is subjected to RBI Policy Conditions.
  • New Amendment rejects the import; however, it is authorized through recognized agencies of RBI and The Directorate General of Foreign Trade (DGFT).
  • The Code Specifying the Item - 7106 9100 specifies the silver, plated with Gold or platinum in the form of an unwrought substance.
    • The existing Import policy states a free import is subjected to RBI Policy Conditions.
      • New Amendment inhibits by:
        • The import of Gold is authorized through recognized agencies of RBI and DGFT.
        • Refineries can import silver ore by obtaining a license with AU regulations.
  • The Code Specifying the Item - 7106 9210 specifies the silver, plated with Gold or platinum in the form of the semi-manufactured sheet, plates, tubes, strips, and pipes.
    • The existing Import policy states a free import is subjected to RBI Policy Conditions.
    • New Amendment rejects the import; however, it is authorized through recognized agencies of RBI and The Directorate General of Foreign Trade (DGFT).
  • The Code Specifying the Item - 7106 9290 specifies the silver, plated with Gold or platinum in the form of other products specified earlier.
    • The existing Import policy states a free import is subjected to RBI Policy Conditions.
    • New Amendment rejects the import; however, it is authorized through recognized agencies of RBI and The Directorate General of Foreign Trade (DGFT).
  • The Code Specifying the Item - 7108 1100 specifies the Gold, plated with platinum in the form of Powder.
    • The existing Import policy states a free import is subjected to RBI Policy Conditions.
    • New Amendment rejects the import; however, it is authorized through recognized agencies of RBI and The Directorate General of Foreign Trade (DGFT).
  • The Code Specifying the Item - 7108 1200 specifies the Gold, plated with platinum, as an unwrought substance.
    • The existing Import policy states a free import is subjected to RBI Policy Conditions.
    • New Amendment inhibits by,
      • The import of Gold is authorized through recognized agencies of RBI and DGFT.
      • Refineries can import gold ore by obtaining a license with AU regulations.
  • The Code Specifying the Item – 7108 1300 specifies the Gold, plated with platinum in the form of semi-manufactured.
    • The existing Import policy states a free import is subjected to RBI Policy Conditions.
    • New Amendment rejects the import; however, it is authorized through recognized agencies of RBI and The Directorate General of Foreign Trade (DGFT).
  • The Code Specifying the Item – 7118 9000 specifies Other products like the base metals or Silver, Clad with Gold, not further worked, in the form of semi-manufactured.
    • The existing Import policy states a free import is subjected to RBI Policy Conditions.
    • New Amendment rejects the import; however, it is authorized through recognized agencies of RBI and The Directorate General of Foreign Trade (DGFT).

The notification of the revised import policy can be accessed below:

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Frequently Asked Questions

Common questions about Gold and Silver Import Policy Regulations 2019.

The revised import policy aims to regulate the import of gold and silver, other than monetary gold and silver, by classifying them as 'Restricted' items under Chapter 71 of the Indian Trade Clarification (ITC (HS)), 2017.
The revised policy defines the classification of precious metal alloys based on their weight percentage composition. An alloy with 2% or more platinum is considered a platinum alloy, an alloy with 2% or more gold and less than 2% platinum is considered a gold alloy, and an alloy with more than 2% silver is considered a silver alloy.
The import of silver powder (code 7106 1000) is not allowed freely. It can only be imported through recognized agencies of the Reserve Bank of India (RBI) and the Directorate General of Foreign Trade (DGFT).
Yes, refineries can import gold ore by obtaining a license with the regulations of the Authorized User (AU) under the revised policy.
The import of semi-manufactured gold products (code 7108 1300) is not allowed freely. It can only be imported through recognized agencies of the RBI and the DGFT.
The weight percentage of precious metals like platinum, gold, and silver in an alloy determines its classification as a platinum, gold, or silver alloy, respectively. This classification is essential for determining the import conditions under the revised policy.
No, the import of base metals or silver clad with gold (code 7118 9000) in the form of semi-manufactured products is not allowed freely. It can only be imported through recognized agencies of the RBI and the DGFT.
The Reserve Bank of India (RBI) and the Directorate General of Foreign Trade (DGFT) are the recognized agencies authorized to facilitate the import of restricted gold and silver items under the revised policy.
The import of unwrought silver (code 7106 9100) is not allowed freely under the revised policy. The import of gold is authorized through recognized agencies of the RBI and DGFT, while refineries can import silver ore by obtaining a license with AU regulations.