DGFT speeds up silver imports through IIBX, other nominated agencies

The Directorate General of Foreign Trade (DGFT) has streamlined the process for importing silver by allowing it to be done through the India International Bullion Exchange (IIBX) and other nominated agencies. This change aims to make it easier for genuine applicants to receive import authorisations quickly and efficiently. The simplified procedure should benefit the silver market by reducing delays and increasing trade. As a result, the silver market may see increased activity and potentially higher prices.

Why it matters

The government has simplified the procedure for obtaining import authorisations for specific silver items. This change should help genuine applicants receive approvals faster, increasing silver imports.

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