Silver Import India: GTRI Warning on Silver Import; He said that from the dominance of China..

• GTRI reveals to boost silver processing
• GTRI demands diversification of imports
• Silver isn’t just for jewelry; Also important for industries

Silver Import India: India should focus on silver processing by reducing dependence on imported silver and diversifying import sources. This has been stated by GTRI in a report. Also, the report states that China is the world’s largest silver producer. China imports about US$5.6 billion of world imports of silver ore and imports US$6.3 billion worth of concentrates. It refines ore domestically and exports high-value silver used in electronics, medical equipment and solar panels.

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Global Trade Research Initiative (GTRI) founder Ajay Srivastava said that to add value domestically, India should learn to process silver from the ore stage. In the financial year 2024-25, India exported only US$ 478.4 million worth of silver products, while importing US$ 4.83 billion, underscoring its deep import dependence. In 2025, this dependency increased exponentially. Imports reached US$2.7 billion in October alone, a 529 percent increase over the previous year. Then, it reached US$1.1 billion in November, a year-on-year increase of 126 percent.

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Total imports reached US$ 8.5 billion during January-November 2025 and are estimated at US$ 9.2 billion for the full year. This is about 44 percent more than in 2024. India imported silver worth USD 5.94 billion during April-October 2025. India should recognize silver not just as a precious commodity but as an important industrial and energy-transition metal and include it in its mineral and clean energy policy. This requires ensuring long-term supply through foreign mining partnerships, promoting domestic refining and recycling capabilities to reduce dependence on imported finished silver, and diversifying import sources beyond a few trading hubs.

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