Directorate General of Foreign Trade (DGFT)
DGFT functions under the Ministry of Commerce and Industry and is responsible for implementing India's Foreign Trade Policy (FTP). It regulates export and import activities through licences, authorisations, and notifications. Under the FTP, certain sensitive commodities — including gold and silver — are placed in a "restricted" category, meaning they can only be imported by entities specifically nominated or authorised by the RBI or DGFT.
- DGFT operates under the Foreign Trade (Development and Regulation) Act, 1992.
- The FTP is typically issued for five-year periods; the current policy is FTP 2023.
- Gold and silver fall under ITC-HS Chapter 71 (Precious Metals) and are classified as "restricted" items, not freely importable.
- Nominated agencies include RBI-approved banks, the MMTC, and qualified jewellers recognised under the India International Bullion Exchange (IIBX) framework.
● Tracked since March 03, 2026 · last seen July 21, 2026 · updates as the daily brief publishes
See it in today’s brief.
Daily current affairs with every static concept explained in place.
Read the daily brief