Page 19 - Bullion World Volume 4 Issue 5 May 2024

Bullion World | Volume 4 | Issue 5 | May 2024

Congratulations Hindustan Zinc

Limited on Becoming the 3rd Largest

Silver Producer in the World!

Key Learnings from the 2024 India Silver Conference

• Globally, silver faces a structural deficit due to high • Manufacturing cadmium-free silver is complex,
demand in industrial sectors like electric vehicles necessitating strict regulations and consumer
and electronics, necessitating incentives for holders education.
to release physical silver. Despite trading below its
peak, silver presents investment opportunities. • The conference emphasizes silver's strategic role in
India's industrial growth, urging investment in silver
• Portfolio diversification recommends allocating 4 for economic resilience.
to 7% to silver, with lower percentages for short-
term investors. Consumer trends in the USA and • Government initiatives like rural electrification
Germany favor physical silver over paper assets. and housing for all further boost silver demand.
Collaboration between industry and research
• Delegates forecast silver to surpass 34 USD/Troy institutions accelerates innovation in silver-related
Ounce by December 2024. products.

• India's silver market growth hinges on industrial • Research institutions offer innovative silver
demand, notably in electrical contacts and solar products and seek industry collaboration. Silver's
paste, projected to grow annually at 15%. versatility and industrial applications position it as a
cornerstone of India's economic development.
• Improving productivity in India's silver jewelry
manufacturing requires common facility centers. • India's solar cell production growth to 60 GW by
GJEPC initiatives can boost exports. 2027-28, led by major players like Adani Solar, Tata,
and Reliance, will drive silver demand.
• Voluntary hallmarking enhances silver quality, but
compulsory hallmarking faces challenges due to the • Silver's evolving perception from "poor man's gold" to
unorganized sector. "everyman's gold" underscores its increasing value
amid rising gold prices.

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