Jewelry Buyers Face Shock: Centre Imposes Strict Import Rules on Gold, Silver Ornaments

• Central government tightens import regulations for gold and silver ornaments from April 1, changing policy from 'Free' to 'Restricted'.
• All jewelry under CTH 7113, including filigree work, pearl/diamond/precious stone studded, and platinum/base metal jewelry, now requires a DGFT license for import.
• The move aims to protect the domestic jewelry industry, curb misuse of Free Trade Agreements (FTA), and support local manufacturers in cities like Hyderabad.
• Local jewelers anticipate increased demand for domestic products and job security for artisans, while consumers may face higher prices for imported designs.
• Exemptions apply to export-oriented units, SEZs, 100% EOUs importing raw materials for export, and gold jewelry imports under the India-UAE FTA.

Key Questions Answered

Will imported jewelry become more expensive for consumers?

Yes, imported jewelry is likely to become more expensive for consumers due to new government curbs on imports of gold, platinum, and silver jewelry, effective immediately.

How will these new rules affect small jewelers?

New import rules for gold and silver jewelry, effective April 1, 2026, have shifted the policy from 'Free' to 'Restricted'. This change impacts jewelry imports under CTH 7113.

What is the long-term impact on local artisans?

Local artisans are experiencing increased demand for their handicrafts, leading to new market access and employment opportunities.