The Directorate General of Foreign Trade (DGFT) issued the order permitting the banks to import gold and silver from April 1, 2026, to March 31, 2029, after a significant delay that disrupted imports. The previous authorization had expired on March 31, leading to a halt in new import orders and causing a backlog of precious metals at customs. The absence of fresh imports could have tightened domestic availability, potentially impacting global prices and India's trade deficit.
BUSINESSPublished 17 Apr 2026 • Published 4h ago
India Authorizes Banks for Gold, Silver Imports After Delays
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On April 17, 2026, India authorized 15 banks, including the State Bank of India and HDFC Bank, to import gold and silver after a delay left over 5 metric tons of gold and 8 metric tons of silver stuck at customs. This development alleviates potential supply shortages in the world's second-largest gold consumer.
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BRbrecorder.com
TLtribune.com.pk
TOItimesofindia.indiatimes.com
BUbusiness-standard.com
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