India is experiencing a massive surge in silver imports, recording a year-on-year growth of 80% in the first quarter of the year. This rise is primarily driven by the expanding green energy industry, specifically solar panels manufacturing, and electronic components.
As silver continues to gain traction as an industrial metal, local silver prices have mirrored this demand, trading close to Rs 90,000 per kilogram. Industry experts predict that silver could outperform gold in terms of return percentage over the next 12 months, making it an attractive investment vehicle.