The International Financial Services Centres Authority (IFSCA) on January 02, 2025, issued update on the Import of gold or silver by Qualified Jewellers and valid India-UAE CEPA TRQ holders through IIBX.
Based on the representations received and consultations held with stakeholders, vide IFSCA Circular dated January 02, 2026, among other things:
a) the eligibility criteria for import of gold or silver through IIBX for the following entities was relaxed:
(i) Special Economic Zone (SEZ) units, holding valid Letter of Approval and having export of jewellery as one of their authorised operations; and
(ii) Advance Authorisation holders;
b) it was clarified that for undertaking imports of silver bars under the ITC (HS) Code 71069221 through IIBX, an entity shall not be required to be notified by IFSCA as a Qualified Jeweller.
The instructions issued by IFSCA, vide abovementioned Consolidated Circular dated October 10, 2025 and Circular dated January 02, 2026, on import of gold or silver by eligible entities including Qualified Jewellers and valid India-UAE CEPA TRQ holders through IIBX have been further compiled and issued in this Consolidated Circular.
[Circular No. IFSCA-PMTS/10/2023-Precious Metals/2026/2]
