New Delhi: Silver imports to India touched a record high in last year. India imported a total of 9,450 tonnes of silver in the 2022 calendar year. The previous high for silver imports was 8,093 tonnes in 2015.
From July to October, nearly 4,700 tonnes of silver have been imported. July witnessed highest-ever monthly import of 1,700 tonnes. Domestic supply was around 700-750 tonnes and demand was estimated to be 9,000 tonnes in last year.
Also Read: Jio rolls out 5G services in 7 cities in 6 states
The rising demand of silver from industry and jewellery and silverware fabricators is the main reason for this high import. As per experts, electrical and solar panel makers had a big share in industry demand. 40% silver is estimated to have been consumed by industry, 30% by investors and rest by silver jewellery and silverware/artefacts makers.
Post Your Comments