India Allows 15 Banks to Import Gold and Silver Until 2029

The Government of India has authorised 15 banks to import gold and silver until March 2029, a move aimed at ensuring smooth supply and maintaining stability in the precious metals market.

According to the report, designated banks will continue to play a key role in managing the import of gold and silver, which are critical for sectors such as jewellery, investment, and industry. The decision provides long-term clarity to market participants and supports continuity in trade operations.

India is one of the world’s largest consumers of gold, making import management crucial for balancing domestic demand and external trade dynamics. By allowing selected banks to handle imports, authorities can better monitor inflows, regulate supply, and manage associated risks.

From an economic perspective, gold imports have implications for the country’s current account balance and currency stability. Controlled import channels help in managing foreign exchange outflows and ensuring orderly market functioning.

From a risk management standpoint, the policy supports transparency and oversight, reducing the chances of irregularities in import activities while maintaining supply chain efficiency.

The development reflects a calibrated approach by policymakers to balance demand, trade management, and financial stability in the precious metals market.

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