India, May 17 -- The Central Government has tightened regulations on silver imports by moving the precious metal from the "free" to the "restricted" category, making prior government approval mandatory for all imports. The decision comes after a sharp increase in silver imports, which surged by over 157% year-on-year in April 2026.

The move follows the government's recent decision to increase import duties on precious metals, including gold and silver, from 6% to 15%. The aim is to reduce the country's import bill and conserve foreign exchange reserves for essential sectors such as energy and fertilizers.

According to trade data, silver imports reached $411.06 million in April, significantly higher than $159.85 million during the same p...