New Delhi, Jan. 7 -- India's silver imports surged to an estimated USD 9.2 billion in 2025, marking a 44 per cent increase from the previous year despite a sharp rise in global prices.

Global Trade Research Initiative (GTRI) warn that the country's heavy dependence on imports, combined with limited domestic processing capacity, could become a strategic vulnerability as global demand tightens and geopolitical risks rise.

Silver prices in India nearly tripled in rupee terms during 2025, climbing from around Rs 80,000-85,000 per kg at the beginning of the year to over Rs 2.43 lakh per kg by early January 2026. The rally is attributed to a combination of factors, including geopolitical tensions, investor demand, and strong industrial consum...