India's Silver Strategy: A Call for Industrial Independence

India should boost silver processing, diversify imports: GTRI

India is a major consumer of finished silver, importing billions of dollars worth annually. Experts urge India to shift from importing refined silver to processing it domestically. This involves securing long-term mining supplies from abroad and enhancing local refining and recycling capabilities. Such a strategy will reduce import dependence and boost value addition within India.

India's Silver Strategy: A Call for Industrial Independence

India's Silver Strategy: A Call for Industrial Independence In an increasingly industrialized world, silver has emerged as a pivotal resource, especially for India, which stands as the largest consumer of finished silver. To transition from dependency to self-sufficiency, India needs to focus on processing silver from its ore stage, according to the Global Trade Research Initiative (GTRI).China currently dominates the silver processing industry,…

India should boost silver processing diversify imports : GTRI

NEW DELHI : Silver is not just a precious metal but a key industrial and energy transition input, and India should focus on processing it by securing long-term overseas mining supplies, boosting domestic refining and recycling, reducing reliance on imported finished silver, and diversifying import sources, GTRI said.It said China is the world’s dominant processor of silver. Beijing is importing around USD 5.6 billion of silver ores and concentra…

India leads silver imports in 2025, China in processing: Why securing supply is as important as energy security – GTRI explains – The Times of India

Silver imports surged sharply in 2025, pointing to its growing strategic importance, amid rising industrial demand, supply constraints and geopolitical tensions, according to a report by Global Trade Research Initiative (GTRI).India was the world’s largest importer of refined silver. It is estimated to have imported silver worth $9.2 billion last year, a 44 per cent increase from the previous year, despite a steep rise in prices. Silver prices i…

Rising silver reliance a concern for India: GTRI

India's silver imports surged to an estimated USD 9.2 billion in 2025, marking a 44 per cent increase from the previous year despite a sharp rise in global prices. Global Trade Research Initiative (GTRI) warn that the country's heavy dependence on imports, combined with limited domestic processing capacity, could become a strategic vulnerability as global demand tightens and geopolitical risks rise.