Surat: The Directorate General of Foreign Trade (DGFT), under the Union Ministry of Commerce and Industry, on Wednesday announced restrictions on the import of silver and precious metal jewellery from several ASEAN countries, including Thailand, effective until March 31, 2026. The move comes in response to a sharp surge in such imports.

According to a DGFT notification, the import policy for silver and precious jewellery has been changed from “Free” to “Restricted,” requiring importers to obtain a government licence for products that were previously allowed without permission. The restrictions primarily cover silver jewellery, jewellery made of precious metals, and non-gemstone jewellery.

ASEAN, a federation of 10 countries including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, has witnessed a notable rise in silver imports, particularly from Thailand. Officials highlighted that India imported around 40 metric tons of silver from Thailand alone, suggesting possible misuse of duty exemptions under the ASEAN-India Trade in Goods Agreement (AITIGA).

Nainesh Pachchigre, President of the Indian Bullion Jewellers Association (IBJA), welcomed the restrictions, stating they were essential to protect domestic manufacturers.

Trade data from the Ministry of Commerce and Industry shows a steep increase in silver jewellery imports. Between April and June 2025, India imported silver jewellery worth $235.1 million, a 270.6% rise from $63.4 million during the same period last year. Imports from Thailand alone surged from $50.9 million to $219 million, a 330% jump.

In July 2025, total imports reached $148.5 million, up 255.6% from $41.8 million in July 2024, with Thailand accounting for $142.7 million, marking a 288.5% increase.

The government’s move aims to curb misuse of free trade agreements and check the rising imports of non-studded silver jewellery, thereby supporting domestic artisans and manufacturers. DeshGujarat