India's silver imports to double on rising demand for solar, investment

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The story "India&#039;s silver imports to double on rising demand for solar, investment" was covered 4 hours ago by Business Standard, a news publisher based in India.

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India's silver imports to double on rising demand for solar, investment - Business Standard

Quick Summary:

India slashed import duties on silver in July to 6% from 15%, a step aimed at tackling smuggling.

Higher imports by the world's biggest silver consumer could give further support to global prices, which are close to their highest level in more than a decade.

Local silver futures hit a record high of 96,493 rupees ($1,151) per kilogram in May and are up nearly 14% so far in 2024, slightly exceeding a 13% increase in gold prices.