10月22日，印度对外贸易总局（DGFT）发布通知，为未来六个月设定6500吨白银进口配额，这相当于印度2026财年全年进口量7334吨的近89%。
On 22nd October, the Directorate General of Foreign Trade (DGFT) had notified a 6,500-tonne silver import quota for the next six months, which is nearly 89% of India’s entire FY 2026 imports of 7,334 tonnes.
印度白银进口额从2025财年的48亿美元激增约150%至2026财年的121亿美元。为遏制这一激增，政府于2026年5月13日将关税从6%提高至15%，并于6月通过强制要求事先许可，将白银列入限制进口清单。
India’s silver imports have risen by about 150% from $4.8 billion in FY 2025 to $12.1 billion in FY 2026. To curb the surge, the government had raised customs duty from 6% to 15% on 13th May 2026, placing silver on the restricted import list in June by making prior permission mandatory.
随后进口额下降约25%，从2025年4月至9月的34亿美元降至2026年同期的26亿美元。2026年9月进口额同比下降49%。
Imports subsequently fell by about 25%, from $3.4 billion during April-September 2025 to $2.6 billion during April-September 2026. Imports in September 2026 imports declined 49% year-on-year.
全球贸易研究院（GTRI）敦促政府共同审查配额制度和关税优惠，指出如此大规模的配额分配引发一个问题：如果政府愿意允许超过市场需求的进口量，是否还有必要保留进口限制。
Urging the government to review the quota system and tariff preference together, the Global Trade Research Institute (GTRI) said that such a large allocation raises a question of whether import curbs need to be retained if the government is willing to permit volumes exceeding market requirements.
GTRI创始人阿杰·斯里瓦斯塔瓦表示，如果大量进口是可以接受的，政府应取消配额，恢复免许可证进口，同时保留适用关税。
Stating that if substantial imports are acceptable, GTRI's Founder Ajay Srivastava recommended that the government should abolish quotas and restore licence free imports while retaining the applicable customs duty.
他补充称，如果政府对大额进口量感到满意，取消数量限制将降低成本和不确定性，使企业能根据需求采购。
He added that if the government is comfortable with large import volumes, removing quantitative restrictions would cut costs and uncertainty, allowing businesses to buy according to demand.
该智库指出，尽管关税已提高，政府的这一决定仍让限制措施的目的以及配额背后的市场需求评估受到质疑。
The think tank pointed out that the government's decision, despite the higher tariff, questioned the purpose of restrictions and the assessment of market demand underlying the quota.
它指出，企业承担着向DGFT反复申请的成本，以及面对配额公告、分配和许可的不确定性；审批延迟有可能扰乱采购和商业承诺。
It noted that firms bear the cost of repeated applications to DGFT and uncertainty over quota announcements, allocations and permits, with delayed approvals having the possibility of disrupting purchases and commercial commitments.
《全面经济伙伴关系协定》（CEPA）自2022年5月1日起生效，规定对HSN 7106项下合格银条的基本关税在10年内通过每年降低一个百分点的方式降至零。
The CEPA, effective from 1st May 2022, provides for reducing basic customs duty on qualifying silver bars under HSN 7106 to zero over 10 years through annual one-percentage-point reductions.