Govt limits gold imports at 100 kg under advance authorisation
This story was originally published at 20:29 IST on 14 May 2026
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--Govt caps gold imports at 100 kg under advance authorisation
--Govt: To OK gold import authorisation over cap if 50% export obligation met
NEW DELHI – The Directorate General of Foreign Trade on Thursday capped gold imports at 100 kilograms under advance authorisation. "In case of application for advance authorisation by a first-time applicant, a mandatory physical inspection of the applicant's manufacturing facility shall be undertaken by the concerned regional authority to verify the existence, capacity and operational status of the manufacturing facility," the commerce ministry said in a notification.
This comes a day after the government increased duties on gold and silver to 15% from 6% to dissuade people from buying gold and curb imports of precious metals. On Sunday, Prime Minister Narendra Modi gave a clarion call to citizens to reduce fuel consumption and avoid non-essential gold purchases to reduce India's import bill and save foreign exchange. The rupee has depreciated over 5% against the dollar since the US and Israel jointly attacked Iran on Feb. 28. It hit a record low of 95.96 against the dollar on Thursday.
The Directorate General of Foreign Trade will give any subsequent gold import advance authorisation only if at least 50% of the export obligation for previous advance authorisation is met, according to the notification. "The advance authorisation holder shall submit a fortnightly performance report to the concerned regional authority," it said. End
Reported by Sagar Sen
Edited by Avishek Dutta
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