Amendment in import policy condition of silver Covered under Chapter 71 of Schedule —I (Import Policy) of ITC (HS), 2022.

To be published in the Gazette of India Extraordinary Part-II, Section-3, Sub-Section

(ii) Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan, New Delhi

• Notification No. 35/2023

• New Delhi, Dated: 11" October, 2023

Subject: Amendment in import policy condition of silver Covered under Chapter 71 of Schedule —I (Import Policy) of ITC (HS), 2022.

S.O. (E): In exercise of powers conferred by Section 3 and Section 5 of Foreign Trade (Development &Regulation) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy 2023, as amended from time to time, the Central Government hereby amends the import policy conditions for silver under HS codes 71069110 and 71069290 of Chapter 71 of Schedule-1(Import Policy) of ITC HS, 2022 as under:

|code|Description|||condition|condition||condition||
|---|---|---|---|---|---|---|---|---|
|71069110||Grains|Restricted||Import is|allowed only|lmport<br>is|||allowed|
||||_|{through|~—nominatedjonly|||through|
|||||agencies|as_|notifiedinominated|||
|||||by<br>RBI|(in|case|oflagencies|as|
|||||banks) and DGFT|||(forinotified by|RBI<br>(in|
|||||other|agencies).|jcase<br>of|||banks),|
|||||Silver<br>dore||can|belDGFT<br>(for<br>other||
|||||imported|by refineriesjagencies)|||and<br>by|
|||||against a|license withiqualified<br>jewellers||||
|||||AU condition.|||as<br>notified|by the|
||||||||IFSCA<br>for|impo|
||||||||through|India|
||||||||International||
||||||||bullion<br>Exchange||
||||||||(IIBX).<br>Silver dore|||

<br>jewellers||||
|||||AU condition.|||as<br>notified|by the|
||||||||IFSCA<br>for|impo|
||||||||through|India|
||||||||International||
||||||||bullion<br>Exchange||
||||||||(IIBX).<br>Silver dore|||
||||||||can be imported by||
||||||||refineries against a||
||||||||license<br>with<br>AU||
||||||||Condition.||
|71069290|{Other|Restricted||Import is|allowed onlylmport<br>is|||allowed|
|||||through nominated|||__ jonly|through|
|||||agencies|as|notifiedinominated|||
|||||by<br>RBI|(in|case|offagencies|as|
|||||banks) and DGFT|||(forinotified by|RBI<br>(in|
|||||other agencies).|||case<br>of|banks),|
||||||||DGFT<br>(for<br>other||
||||||||agencies)|and<br>by|
||||||||qualified<br>jewellers||

FF 7 7 TT Lo 7

7 j

aS notified by the IFSCA for import through India International bullion Exchange IIBX),

2. Effect of the notification: In addition to nominated agencies as notified by RBI (in case of banks) and nominated agencies notified by DGFT, qualified jewellers as notified by international Financial Services Centres Authority (IFSCA) will be permitted to import Silver under above mentioned Specific ITC(HS) codes through India International Bullion Exchange IFSC Ltd. (I1BX).

This issue with the approval of Minister of Commerce & Industry.

;

Director (Santosh Kumar Sarangi) Ex-officio General of Foreign Trade & Addl. Secretary to Govt. of India (Issued Email: dgft@nic.in from File No. 01/89/180/36/AM-1 1/PC-2[AJ/E-1678)