Gold And Silver Imports Halted As Banks Await DGFT Nod, Shipments Stuck At Customs

Indian banks have halted gold and silver import orders after a delay in government authorisation, with existing shipments stuck at customs due to the absence of a fresh directive, according to Reuters.

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Shipments Stalled At Ports

More than 5 tonnes of gold and around 8 tonnes of silver are currently awaiting customs clearance, as per trade sources cited by Reuters. The delay follows the expiry of the previous import authorisation issued in April 2025, which remained valid until March 31, 2026.

The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, is yet to issue a new order listing banks authorised by the Reserve Bank of India to import bullion. Reuters reported that the DGFT had not responded to queries on the timeline for the updated notification.

Banks Pause Fresh Orders

Banks have stopped placing new import orders with overseas suppliers until clarity emerges on the regulatory approval. According to Reuters, dealers indicated that new purchases are unlikely while existing consignments remain uncleared at ports.

India is highly dependent on importing gold and silver to fulfil its domestic demand, and thus, this delay becomes crucial for its supply chain.

Trends in Demand and Inventory

The gold demand in India in 2025 was 710.9 tons, which was the lowest point in five years, as per information released by the World Gold Council, Reuters reported. Current market supply is being supported by existing inventories and exchange-traded fund outflows, as per trade participants.

Industry representatives have said that ongoing delays in imports could affect the availability of goods in the domestic market, especially during times of high demand.

Trade And Currency Context

The halt in bullion imports comes at a time when authorities have taken steps to manage external sector pressures. According to Reuters, limiting imports could help contain the trade deficit and provide support to the rupee.

At the same time, higher global prices for oil, gas and fertilisers have increased India’s import bill in April, adding to macroeconomic considerations around foreign exchange outflows.

Regulatory Awaited

The DGFT typically issues the list of authorised importing banks at the start of each financial year. As there has been no notice yet published in April 2026, the banks and dealers are waiting for further instructions before conducting their regular imports.

It is evident that gold imports are still suspended until the order from the government comes out, with the current imports still awaiting clearance at the ports.