Attention Flood of fake silver in the market, BIS issued warning; Read this report before purchasing

Fake Silver In Indian Market: Amidst the rising price of silver in India and strong demand for investment, fake and low-quality silver is now emerging as a new problem in the market. The situation has become such that many silver bars, coins and jewelery being sold in the market are not meeting the set standards of purity. This is not only causing loss to the customers, but questions are also being raised on the credibility of the entire silver market.

There has been a continuous rise in silver prices in the country for some time now. Along with gold, investors are also considering silver as a safe investment. This is the reason why the demand for silver bars, coins and silver utensils has increased rapidly. But, taking advantage of the increasing demand, some businessmen and people making fake products are selling low purity silver in the market.

Large quantity of fake silver in the market

Experts associated with the precious metal industry say that there is a large amount of silver present in the market which does not meet the standard of 999 purity. In many cases, banned elements like nickel, cadmium and lead are also found in silver, which are considered harmful to health. Of particular concern is that such metals are often found in jewelery and other items made from scrap silver.

BIS (Bureau of Indian Standards) from September 2025 hallmarking of silver has been made mandatory, but people associated with the industry say that a large number of jewelers are still not following this rule completely. This is making it difficult for customers to identify real and fake silver.

Demand to bring strict hallmarking system

Experts believe that just as a strict hallmarking and licensing system is in place for gold, similarly a strong system is necessary for silver too. At present, about 7,000 tonnes of silver is consumed annually in India, but only 286 assaying and hallmarking centers exist for this. In comparison, the consumption of gold is much less, yet there are more than 1,500 centers for gold. This imbalance is becoming a big problem in the silver market.

Cities like Jaipur, Agra, Rajkot, Kolhapur, Salem and Cuttack of the country. silver jewelery And are considered to be big centers of making religious items. A large quantity of silver utensils, puja items and coins are prepared here. But, industry experts say that the quality of silver used in many of these products is questionable.

Preparation to bring quality-certified silver bars

Now refinery companies are demanding from the government that licensing system should be made mandatory for silver refining units also. He says that this will increase transparency in the market and customers will be able to get pure silver. Meanwhile, BSE and NSE (National Stock Exchange of India) are also preparing to bring quality-certified silver bars on their commodity platforms. This can give investors the option to buy certified and reliable silver.

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Fake silver business is growing rapidly

Experts say that if the government and BIS do not take strict steps in the coming time, the business of fake and substandard silver may increase further. In such a situation, customers are being advised to buy only BIS hallmarked silver and check its purity before investing.