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India Tightens Precious Metals Import Rules to Shore Up Rupee

India has tightened import regulations for silver and gold as part of a broader effort to defend its currency and preserve foreign-exchange reserves. The rupee has fallen to record lows, prompting the government to implement emergency measures. Import tariffs on the precious metals have more than doubled under the new framework. The steps come as India faces pressure from Middle East tensions, which have complicated efforts to maintain currency stability. Officials are also considering restrictions on other non-essential imports and potential fuel price increases to further protect the country's forex position. Economists say India's foreign-exchange reserves remain healthy relative to historical stress benchmarks, though policymakers are taking a cautious approach to limit economic fallout from regional geopolitical developments.