India's Silver Strategy: A Call for Industrial Independence

Silver is crucial for industrial and energy sectors. India must secure its supply chain through overseas mining, domestic refining, and recycling. By reducing import dependence, India can integrate silver into its energy strategy, amid China's export controls. Silver's strategic importance is growing globally, especially in technology and green energy.

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, refining significant amounts from its imports and exporting higher-value silver products. As China imposes tighter export controls beginning January 2026, India sees an urgent need to diversify its silver import sources and enhance its domestic capabilities.

The role of silver is transforming, particularly in green technology. It's now vital in solar cells, electronics, and other sectors, highlighting the need for India to integrate silver into its minerals and clean-energy strategy, as proposed by GTRI's founder, Ajay Srivastava. A strategic shift is necessary to secure India's industrial future.

(With inputs from agencies.)