Indian banks have stopped importing gold and silver due to a delay in government authorization, leaving more than 5 tons of gold and 8 tons of silver stuck at customs. The Directorate General of Foreign Trade (DGFT) typically issues an order every financial year to authorize banks to import bullion, but the latest order expired on March 31, 2025. With no new directive issued, banks are refraining from placing new orders, leading to concerns about supply shortages in the world's second-largest gold consumer. India's gold demand fell to 710.9 metric tons in 2025, the lowest level in five years, according to the World Gold Council. The halt in imports could also impact global gold and silver prices while potentially narrowing India's trade deficit and supporting the rupee. Industry experts, including Surendra Mehta from the India Bullion and Jewellers Association, emphasize the need for clarity from the government to resume imports, particularly as the Akshaya Tritiya festival approaches, a significant period for gold purchases.