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India gold and silver import authorisation is back in force after a delayed government order disrupted bullion flows at the start of the financial year. On April 17, India issued the long-awaited notification allowing 15 banks to import both gold and silver from April 1, 2026 to March 31, 2029, while Union Bank of India and SBER Bank were authorised to import gold only. Reuters reported that the delay had already left more than 5 metric tons of gold and around 8 metric tons of silver stuck without customs clearance.
The order was issued by the Directorate General of Foreign Trade, part of the Ministry of Commerce and Industry. Reuters said the government did not explain why the routine annual authorisation came late this year, but the market impact was immediate because banks had paused new bullion import orders while waiting for legal clearance to proceed.
For customs and trade, the importance of the new India gold and silver import authorisation is practical as much as legal. The notification clears the way for pending consignments to move through customs and restores the formal channel through which approved banks bring bullion into the country. That matters in India, where overseas supply remains central to the gold market and even more important for silver.
The timing is also commercially sensitive. Reuters noted that the disruption came as the domestic market approached Akshaya Tritiya, one of India’s most important gold-buying periods, raising concerns about supply bottlenecks just as festive demand typically strengthens. At the same time, elevated prices were already weighing on retail appetite, making the customs delay an additional source of pressure rather than the only one.
For banks, bullion dealers, and importers, the episode is a reminder that trade compliance can turn on administrative timing as much as tariff rates. Once the authorisation lapsed on March 31, 2026, the absence of a fresh order was enough to interrupt clearance and hold up physical flows. Now that the new list is in place through March 31, 2029, the immediate focus will shift from uncertainty to execution as stalled imports begin moving again.
