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India Restricts Nearly All Silver Imports on Saturday to Support Rupee, 99.9% Purity Bars Affected

GateNews

2026-05-17 13:49:23

According to a government order issued on Saturday (May 16), India has immediately restricted almost all forms of silver imports to ease pressure on the rupee. The directive designates silver ingots with 99.9% purity and all other semi-finished silver products as restricted categories, which accounted for over 90% of India’s total silver imports in the previous fiscal year.

As the world’s largest silver consumer, India aims to control import outflows through this measure to address currency pressures.

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