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India's silver imports rose 44% in 2025, raising concerns over supply security amid global demand and new export restrictions.
India's silver imports surged to an estimated $9.2 billion in 2025, a 44% jump from 2024, fueling concerns over strategic vulnerability.
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.
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.
Las importaciones de plata de la India aumentaron un 44% en 2025, lo que planteó preocupaciones sobre la seguridad del suministro en medio de la demanda global y las nuevas restricciones a la exportación.