India Tightens Import Curbs on Platinum and Silver Jewelry

The Indian government has imposed restrictions on importing certain platinum and silver jewellery to curb imports from Thailand, leveraging their free trade agreement with ASEAN. The import policy for platinum jewellery has been revised to 'restricted' until April 2026, requiring importers to obtain a DGFT license.

In a bid to control the inflow of jewellery from Thailand, the Indian government on Monday announced import curbs on certain types of platinum jewellery, effective until April next year. This move follows the measures taken last month when restrictions were placed on silver jewellery imports.

The restrictions aim to address the misuse of trade agreements with the ASEAN bloc, of which Thailand is a member, by curbing imports of unstudded silver jewellery. India has enforced the revised import policy that shifts the status of platinum jewellery from 'Free' to 'Restricted'.

Importers intending to bring in these jewellery types must now secure a license from the Directorate General of Foreign Trade (DGFT), as per the latest notification. This policy shift underscores India's strategic efforts to regulate its foreign trade and protect domestic industries.

(With inputs from agencies.)