
India has restarted silver imports after a six-month break. Traders and banks have received licenses to bring in about 400 tons of silver. About 89.81 tons arrived in August through the India International Bullion Exchange. New rules require government certificates of origin. Local premiums stay high as jewelers start restocking for the upcoming festival and wedding season.
Background on Import Changes
The Pause: India restricted silver imports and raised duties earlier in the year to protect foreign exchange reserves.
The Restart: Authorities approved new import licenses, letting physical silver flow back into the domestic market.
New Rules: Importers need special permission and official country-of-origin certificates.
Market Effect: Supply is improving, but red tape and shipping times keep local prices at a notable markup
India silver demand is rebuilding as newly released import licenses let jewelers and fabricators restock before the wedding season.
Rhona O’Connell, StoneX Head of Market Analysis, EMEA & Asia, explains what the new licensing regime asks of importers and why India sits at the center of the physical silver market.
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