India Restricts Nearly All Silver Imports on Saturday to Support Rupee, 99.9% Purity Bars Affected

According to a government order issued on Saturday (May 16), India has immediately restricted almost all forms of silver imports to ease pressure on the rupee. The directive designates silver ingots with 99.9% purity and all other semi-finished silver products as restricted categories, which accounted for over 90% of India's total silver imports in the previous fiscal year.

As the world's largest silver consumer, India aims to control import outflows through this measure to address currency pressures.