By Admin 
India Leads Silver Imports: There has been an increase of almost three times in the prices of silver in the country during the year 2025. According to a report by the Global Trade Research Initiative (GTRI), a sharp surge in industrial demand, global geopolitical tensions and supply uncertainties have made silver more important as a strategic metal.
India has currently become the world’s largest importer of refined silver. In the year 2025, the country will import silver worth about $9.2 billion. Interestingly, despite the huge increase in prices, India’s silver imports remained 44 percent higher than a year ago.
Historic rise in prices
According to the data, the price of silver in January 2025 was around Rs 80,000 to 85,000 per kg, while in January 2026 it increased to around Rs 2.43 lakh per kg.
According to GTRI, the reason behind this sharp rise is not only geopolitical tension or developments like the US attack on Venezuela, but the sharp change in the structure of global demand is also a major reason.
Industrial use becomes the main driver
Today, more than 50 percent of the world’s silver is being consumed in industrial sectors. Mainly in this-
- electronics,
- solar energy,
- Electric Vehicle (EV),
- Defense and Weapon Systems,
- And medical technology is included.
According to the report, the solar energy sector alone is consuming about 15 percent of the global silver demand, which shows its growing industrial importance.
Demand vs supply of refined silver
Since the year 2000, the global demand for refined silver has increased almost eight times. This is a clear indication that silver is no longer just a traditional precious metal, but has become an important input to the modern industrial economy.
However, the supply has not increased in line with this increasing demand. China continues to dominate this front. While China is the world’s largest exporter of silver, India remains its largest importer.
Global concern increased due to China’s decision
India’s concern increased further when China made licensing mandatory for the export of silver. This new rule has come into effect from January 1, under which now the approval of the Chinese government will be required for every export shipment.
Experts believe that this step may increase pressure on the global silver supply chain, due to which further fluctuations in prices may be seen in the future.
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