Govt imposes import curbs, places silver under restricted import category

Within days of levying high customs duties on precious metals, the Government today imposed import curbs on silver. The Directorate General of Foreign Trade in a notification said, the import policy for silver, including silver plated with gold and platinum are revised from free to restricted with immediate effect. The government on Wednesday had hiked import duty on precious metals from six per cent to 15 per cent. The Goods under restricted category needs government license for imports.