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flag India's silver imports rose 44% in 2025, raising concerns over supply security amid global demand and new export restrictions.

flag India's silver imports surged to an estimated $9.2 billion in 2025, a 44% jump from 2024, fueling concerns over strategic vulnerability. flag The country, the world’s largest silver consumer, imported $6.4 billion in refined silver in 2024, while exporting just $478.4 million in silver products. flag With China tightening export controls starting January 1, 2026, and global demand rising for silver in solar panels, electric vehicles, and electronics, the Global Trade Research Initiative urges India to expand domestic refining, boost recycling, diversify import sources, and secure overseas mining partnerships to reduce reliance on finished silver and strengthen its clean-energy and industrial supply chains.

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