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India restricts plain silver jewellery imports to protect local manufacturers

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As per a notification issued by the Directorate General of Foreign Trade (DGFT), plain silver jewellery has been been placed in a restricted category, which means that importers will require a valid authorization from the DGFT to bring in such consignments. the government has moved to restrict imports of plain silver jewellery to protect domestic manufacturers and safeguard jobs in the sector at a time of high demand.

The Commerce Ministry noticed a surge in unstudded silver jewellery imports from some Asean countries, including Thailand, over the past three months (April-June 2025). Much of the imported jewellery was entering India in the guise of finished products, undercutting domestic prices and threatening employment in the labor-intensive silver jewellery sector.

Goods under the restriction category need a licence from the government.The restricted products include articles of jewellery of precious metal, silver, and unstudded and other jewellery, which were free earlier.Asean, or the Association of Southeast Asian Nations, comprises 10 countries – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

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National News

Gold & Precious Metals – A future outlook

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The session saw a power packed panel of experts that comprisedSurendra Mehta, National Secretary-  IBJA,Ranjith Singh,Head of Business Development, IIBX, Shweta Dhanak, Director – Vijay Exports,S Thirupathi Rajan, MD Goldsmith Academy, Shivanshu Mehta, SVP & Head Bullion-MCX.The session was moderated by Chirag Seth, Principal Consultant, Metals Focus.

Some salient points made by the panelists:

  • Gold prices are not linked to consumer demand. They are linked to central bank buying and ETFs
  • Till the banking system doesn’t collapse, gold price will continue to rise
  • Jewellers were advised to use a mix of futures and options for risk mitigation
  • Given the current situation manufacturers selling on credit or unfavorable deals could be fatal flaw for business.
  • Precious metals forecast: Surendra Mehta said he sees gold in 2026 in $4900-5100 range and silver in $90-105.Looking further he said by 2030-2035 gold could touch $18000- 20000 and silver could reach $500. Chirag Seth predicted silver touching $105 this year and gold moving in the $ 5200- $ 5500.

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