"Poor man's gold" gaining popularity in the realms of investment, jewelry, and industry
India's
silver demand is expected to exceed 6,000 tonnes annually by 2016-17 from the current level of 3,000 tonnes, which may reach up to 10,000 tonnes by 2025, as per the Minerals Exploration and Development Report for 12th Five Year Plan Period by the Ministry of Mines.
The positive outlook is based on the increased pull this metal is likely to have on investment, jewelry, and industrial purposes, according to the report.
Also, India expects its
silver production to reach 800-1,000 tonnes by 2016-17, and 1,600 tonnes by 2025, on account of its reserve and resource position. Currently, India produces 200 tonnes of
silver mainly as by product of lead and copper mining. It has been pointed out that there is great need to significantly increase the domestic production to bridge the demand supply gap in the country.
Read Article
