DGFT eases silver import approvals via IIBX and banks
In short
India’s DGFT has made it easier to get import approval for certain silver items. Under the new process, purchases must go through the India International Bullion Exchange or approved banks, and pending applications can be revised.
This should speed up approvals for real buyers of silver. The reporting does not say how much silver will be imported or when the change starts.
What the reporting says
The DGFT simplified import authorisations for specific silver items, according to a publisher summary of the policy change. The new process limits eligible purchases to those made through the India International Bullion Exchange or specified banks, and existing applicants can revise pending applications. The immediate effect should be faster approvals for genuine applicants, while the reporting does not state any volume target or timing for implementation.
Why it matters
The DGFT has simplified the procedure for import authorisations for specific silver items, with eligibility tied to purchases through the India International Bullion Exchange or specified banks. The reported change is meant to help genuine applicants receive approvals more quickly and to let existing applicants revise pending submissions. The source does not provide a quota, timeline, or wider market impact beyond the procedural easing.