The International Financial Services Authority (IFSCA) on June 15, 2026, issued amendments to the circular on “Import of gold or silver by Qualified Jewellers and valid India-UAE CEPA TRQ holders through IIBX”.
The following has been stated:-
•The IFSCA has amended its framework for importing gold and silver through the India International Bullion Exchange to facilitate easier access to bullion for jewellery exports. SEZ units with a valid Letter of Approval and jewellery export operations are no longer required to meet the minimum net worth criterion for notification as Qualified Jewellers.
•The eligibility criteria have also been expanded to include entities holding a valid Registration-cum-Membership Certificate (RCMC) issued by the Gem & Jewellery Export Promotion Council.
•SEZ jewellery-export units may import silver bars under ITC(HS) Code 71069221 through IIBX without being notified as Qualified Jewellers, subject to applicable policy conditions.
•The circular also aligns with recent DGFT restrictions by requiring a valid Import Authorisation for imports of silver under ITC(HS) Codes 71069110 and 71069120.
•These amendments take immediate effect, and an updated consolidated circular incorporating all changes has been issued separately.
[Circular No.: IFSCA-PMTS/10/2023-Precious Metals/2026/2]
