India silver import curbs spark shortages, push domestic prices to 10%+ premium over global benchmarks
Import restrictions and a 15% duty (up from 6%) have squeezed silver supply, with May imports at 46.8 tonnes versus 534.3 tonnes a year earlier. Domestic prices trade at a $6.5/oz premium. Pressure hits jewellery, coin and industrial demand, raising sourcing costs for retailers like Titan's Tanishq.
India's silver import restrictions and 15% duty have created domestic shortages, pushing prices to a 10%+ premium over global benchmarks. Impacts jewellery, coins and industrial demand; relevant to jewellery retailers like Tanishq and Titan sourcing silver.