India Enforces Import Licenses on Platinum Jewellery Through April 2026

Post by : Bianca Suleiman

In a pivotal development for the luxury jewellery sector, the Indian government has enacted new restrictions on the importation of specific platinum jewellery items, effective immediately until April 30, 2026. Importers must now obtain a license from the Directorate General of Foreign Trade (DGFT) to legally bring these items into India.

This decision follows a similar regulatory measure introduced in September aimed at controlling imports of certain silver jewellery, which also extends until March 31, 2026, predominantly to curb the influx of unstudded silver jewellery from Thailand. Given India’s free trade agreement with the ASEAN bloc, where Thailand is a significant participant, the authorities are increasingly wary of the rising volume of imports through this avenue.

The DGFT’s recent announcement modifies the status of platinum jewellery imports from “Free” to “Restricted,” indicating a strong intent to manage foreign flows and bolster local manufacturers. Experts believe that while this may initially result in a tighter supply, it could also foster local manufacturing and fortify the domestic jewellery landscape.

Industry analysts highlight the growing trend of platinum jewellery in India, appreciated for its resilience and contemporary aesthetic. However, escalating imports, particularly via free trade routes, have been posing challenges to local enterprises. By introducing licensing requirements, the government aims to maintain a balance between consumer demand and the protection of domestic industry, ensuring a sustainable future for the luxury jewellery market.

These restrictions are anticipated to impact both major importers and smaller retailers, who will need to rethink their sourcing strategies in light of the new DGFT regulations.