India Curbs Precious Metal Jewellery Imports Until April 2026: Report

As per the Bloomberg report, India has placed a restriction on the import of finished precious metal jewellery until April 30, 2026. This measure impacts categories such as gold, silver and platinum jewellery. The move follows a decline in finished jewellery imports during the first half of FY26. 

Finished Jewellery Imports Drop by 26.16% YoY 

According to the GJEPC half-yearly report for FY26, India imported finished precious metal jewellery worth $1,134 million during April to September 2025. This is a decline of 26.16% compared to $1,536 million in the same period of FY25. The imported items included gold, silver, platinum, and other similar categories. 

Sharp Surge in Raw Material Imports 

Even as finished jewellery imports declined, total gross imports which include both raw materials and finished products rose by 6.74% year-on-year. Gross imports stood at $10,590 million in the first half of FY26, up from $9,921.02 million in FY25’s corresponding period. Gold bar imports surged by 87.76% to $2,492.53 million while silver bar imports more than doubled to $83.66 million. 

Read More: RBI Allows Loans Against Silver Jewellery from April 2026 to Broaden Credit Access! 

Segment-wise Jewellery Import Performance 

In the gold segment, finished gold jewellery imports were valued at $358.31 million, showing a 51.60% decline from the earlier period. Conversely, silver jewellery imports increased to $85.66 million for the same April to September period in FY26. This reveals a shift in demand and possibly reoriented sourcing strategies within the domestic market. 

Restrictions Valid Through End of April 2026 

The government’s decision to restrict imports of finished precious metal jewellery is effective until April 30, 2026. This regulation may continue to affect import trends, especially in sectors dealing with high value finished ornament products. It could also lead to increased reliance on domestic processing from imported raw materials. 

Conclusion 

India’s moved to restrict precious metal jewellery imports till April 30, 2026, has coincided with a drop in finished jewellery imports and a rise in raw material imports. The trend suggests a strategic focus on local manufacturing and value addition within the country. 

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