Hallmarking silver jewellery may become mandatory from October
India consumes around 5,000-7,000 tonnes of silver annually, of which only 700-800 tonnes are mined domestically. The remaining 80-90% of demand is met through imports, mainly from the UK, the UAE, Hong Kong and Russia, among others. With silver prices sitting around ₹2.5 lakh per kg, recent price volatility has heightened consumer focus on verified metal content. This shift is already visible in voluntary adoption, with hallmarked silver articles nearly doubling to 5.9 million in FY26, up from 3.2 million in FY25.
