The International Financial Services Centres Authority (IFSCA) on June 15, 2026, has issued an updated Consolidated Circular on the Import of Gold or Silver by Qualified Jewellers and Valid India-UAE CEPA TRQ Holders through the India International Bullion Exchange (IIBX).
The following has been stated:
The circular consolidates and supersedes earlier instructions issued on 10 October 10, 2025 and January 02, 2026. The objective is to facilitate easier and more transparent access to bullion for jewellery exports and broaden the range of eligible entities that can import bullion through IIBX.
The revised framework removes the minimum net worth requirement for entities seeking notification as Qualified Jewellers, provided they are Special Economic Zone (SEZ) units holding a valid Letter of Approval and have jewellery exports as an authorised activity. Further, the eligibility criteria for Qualified Jeweller status has been expanded to include entities holding a valid Registration-cum-Membership Certificate (RCMC) issued by the Gem & Jewellery Export Promotion Council (GJEPC). These changes are intended to enhance participation in the bullion market and support jewellery export activities.
The circular also takes note of the Directorate General of Foreign Trade (DGFT) Notifications No. 17/2026-27 and 19/2026-27, which have imposed restrictions on the import of certain silver-related ITC(HS) codes. Overall, the consolidated circular compiles all applicable instructions relating to the import of gold and silver by eligible entities, including Qualified Jewellers and India-UAE CEPA Tariff Rate Quota (TRQ) holders, through IIBX and has been issued under the powers conferred by the International Financial Services Centres Authority Act, 2019 and the IFSCA (Bullion Market) Regulations, 2025.
Please refer to the document attached below for more details.
[IFSCA-PMTS/10/2023-Precious Metals/2026/2]
