As India enters its peak festive and wedding season, the government has imposed restrictions on the import of plain silver jewellery to protect domestic manufacturers and safeguard employment. According to a recent notification by the Directorate General of Foreign Trade (DGFT), such imports have been moved to the “restricted” category, requiring valid authorisation for clearance. The move follows a sharp rise in imports of unstudded silver jewellery—particularly from Thailand—between April and June 2025. Officials revealed that many of these products were misclassified as finished goods, undercutting local prices and threatening jobs in the labour-intensive sector.
Imports from Thailand surged from 4 tonnes to 40 tonnes in just three months, increasing its market share from 78% to 98%. The restriction is aimed at curbing unfair trade practices and supporting domestic manufacturers during this high-demand season. With over 4.3 million employed in India’s jewellery sector, the measure ensures fair competition and protects small and medium enterprises. Genuine trade will remain unaffected, as compliant importers can still obtain authorisation. Meanwhile, silver prices have risen nearly 40% in 2025, mirroring gold’s rally.
