Hindustan Zinc Limited shares fell 4.32% on Oct. 23; India’s expedited route for some silver imports has operated since Oct. 15 and carries no published overall volume.
The Directorate General of Foreign Trade (DGFT) issued Trade Notice No. 30/2026-27 on Oct. 13. The faster process covers four silver product codes — 71069110, 71069120, 71069221 and 71069229 — but excludes silver doré.
Applicants must submit a self-declaration and explain the quantity and value they are seeking. The DGFT describes the procedure as based on “self-declaration and trust.” Each authorization runs for six months, with no extension allowed. Shipments must use designated channels, including the India International Bullion Exchange and specified banks or agencies.
Reuters said four importers who received permits put the authorized amount at about 6,500 metric tons of silver for a six-month period. The government notice gives no aggregate volume. The approvals describe permitted imports; they do not establish how much silver importers will actually bring into India.
India meets more than 80% of its silver demand through overseas purchases, Reuters reported. The outlet also reported that dealers put domestic premiums at 45 cents per ounce on Oct. 22, down from as much as $2.50 the previous week. Reuters said the permissions may ease domestic premiums. Dealers told the outlet that jewelry and investment demand remained weak amid falling prices.
The DGFT notice follows restrictions on the listed silver products introduced in May and June 2026. It sets out a faster application process for importers seeking authorization for those products.
For the quarter ended Sept. 30, Hindustan Zinc reported silver sales revenue of ₹4,111 crore, up 141% from a year earlier, and silver production of 173 tonnes, up 20%. The company’s quarterly results also reported higher overall output and profit.
Hindustan Zinc’s FY2025 annual report described it as India’s only primary silver producer. The company said it sold 687 metric tons of silver that year, nearly all in the domestic market.
