Editor’s Note
India has capped duty-free gold import licenses at 100 kg per exporter to curb overseas purchases and ease pressure on foreign reserves amid rising oil prices. The move follows a sharp tariff hike on gold and silver from 6% to 15%.
FTV Finance
>
Finance
India Imposes Gold Import Quota: Maximum 100 kg per License to Stabilize Foreign Exchange
Published: 2026/05/14 23:53:32
Updated: 2026/05/15 00:13:32
Reuters Report
The Indian government announced on Thursday tightened regulations for duty-free gold imports by jewelry exporters, capping each license at 100 kg. As the world’s second-largest gold consumer, India aims to reduce gold imports and alleviate pressure on foreign exchange reserves caused by rising oil prices.
The Indian government has been active recently, earlier this week sharply raising import tariffs on gold and silver from 6% to 15%. To further control overseas purchases of precious metals, authorities have added thresholds to the “advance authorisation scheme” applicable to jewelry exporters. Under the new rules, each import license will allow a maximum of 100 kg of gold.
According to Reuters, the new rules require exporters to have completed at least 50% of their previous export obligations before applying for a new license. Additionally, first-time applicants will face mandatory on-site inspections by local authorities to verify the authenticity, capacity, and operational status of production facilities. License holders must also submit a report certified by an independent accountant every two weeks, detailing import and export activities under the scheme.
Although India is a leading global exporter of gold jewelry, with exports reaching $11.36 billion in the last fiscal year, the industry is concerned about the new regulations. A jewelry exporter in Mumbai noted that the overly cumbersome compliance requirements indicate the government is aggressively curbing gold imports, which could lead to a decline in jewelry exports. A gold trader in Kolkata also stated that the government seems determined to reduce import volumes, erecting trade barriers one by one.
Keywords:
India
Gold Import
Tariff
Jewelry Export
Foreign Exchange Reserves
Finance
International
Search Keywords: Jewelry Compliance