Updated 14/3/2026
Updated daily by GoldMeter
Silver (1 gram)
₹275
₹-4.9 vs yesterday
Silver (1 kg)
₹2,75,000
₹-4900 vs yesterday
Silver rate in India today per gram and per kg with 30-day history, daily changes, and links to calculators and gold prices.
India price
1 gram
₹275
1 gram
▼ ₹5
10 gram
₹2,750
10 gram
▼ ₹49
100 gram
₹27,500
100 gram
▼ ₹490
1 kg
₹2,75,000
1000 gram
▼ ₹4900
| Date | 1 gram | 10 gram | 100 gram | 1 KG |
|---|---|---|---|---|
| 14 Mar(Today) | ₹275(-5) | ₹2,750(-49) | ₹27,500(-490) | ₹2,75,000(-4900) |
| 13 Mar | ₹280(0) | ₹2,799(-1) | ₹27,990(-10) | ₹2,79,900(-100) |
| 12 Mar | ₹280(-10) | ₹2,800(-100) | ₹28,000(-1000) | ₹2,80,000(-10000) |
| 11 Mar | ₹290(0) | ₹2,900(0) | ₹29,000(0) | ₹2,90,000(0) |
| 10 Mar | ₹290(+10) | ₹2,900(+100) | ₹29,000(+1000) | ₹2,90,000(+10000) |
| 09 Mar | ₹280(-5) | ₹2,800(-50) | ₹28,000(-500) | ₹2,80,000(-5000) |
| 08 Mar | ₹285(0) | ₹2,850(0) | ₹28,500(0) | ₹2,85,000(0) |
| 07 Mar | ₹285(0) | ₹2,850(0) | ₹28,500(0) | ₹2,85,000(0) |
| 06 Mar | ₹285(0) | ₹2,850(0) | ₹28,500(0) | ₹2,85,000(0) |
| 05 Mar | ₹285(0) | ₹2,850(0) | ₹28,500(0) | ₹2,85,000(0) |
Last 30 days (per 1kg)
Import Volume
India imports 8,000–9,000 tonnes of silver annually, making it the world's top importer.
MCX Benchmark
MCX silver futures (30 kg lot) are India's primary price-discovery mechanism for wholesale silver.
Purity Standard
IBJA quotes silver at 999 fineness (99.9% pure); 925 sterling silver is quoted separately.
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Silver rate in India today is ₹275 per gram and ₹2,75,000 per kilogram for 999 fine silver. India is the world's largest consumer of silver, importing over 8,000 tonnes annually to meet demand from industry, jewellery, and investment. The domestic silver rate is derived from the London Bullion Market Association (LBMA) fix, converted at the prevailing USD/INR exchange rate and adjusted for customs duty and GST. Prices update multiple times daily on the Indian Bullion and Jewellers Association (IBJA) board, making the rate a reliable benchmark for retail and wholesale transactions across the country.
India's silver market is unique because demand spans temple offerings in the south, silverware traditions in Rajasthan, and rapidly growing industrial consumption for electronics and solar photovoltaic cells. Unlike gold, silver exhibits higher daily volatility owing to its thinner market and dual commodity–precious-metal character. Seasonal patterns are pronounced: Dhanteras and Navratri push retail buying, while Q1 industrial orders from electronics manufacturers create a separate demand cycle. Monitoring both global mine output and Indian import data is essential for anticipating price moves.
India is the world's single-largest silver consumer, importing between 8,000 and 9,000 tonnes annually — roughly one-quarter of global mine output. This enormous appetite is fed by three distinct channels. First, physical jewellery and silverware demand accounts for about 35% of consumption; silver utensils remain a staple wedding gift across northern and western states. Second, industrial fabrication absorbs another 40%, driven by the electronics, solar photovoltaic, and automotive sectors expanding under the government's Make in India and PLI schemes. Third, investment demand — bars, coins, ETFs, and digital silver — has surged among younger urban investors looking for affordable precious-metal exposure. India's silver imports flow primarily through Mumbai's JNPT port and are redistributed via IBJA-affiliated wholesale channels to regional markets in Delhi, Chennai, Kolkata, Ahmedabad, and Jaipur.
India's primary silver trading centres are Mumbai's Zaveri Bazaar for wholesale bullion, Delhi's Chandni Chowk for retail bars, and Chennai's Sowcarpet for south Indian silverware. The MCX silver futures contract (lot size 30 kg) provides price discovery and hedging for institutional participants across the country.
Silver holds deep cultural significance across India—from the silver Kalash used in Hindu puja ceremonies and the silver toe-rings (bichiya) worn by married women in north India, to silver lamp offerings at temples in Tamil Nadu and Karnataka. Silver utensils gifted during weddings remain a cherished tradition in Rajasthani and Gujarati households.
Import Volume
India imports 8,000–9,000 tonnes of silver annually, making it the world's top importer.
MCX Benchmark
MCX silver futures (30 kg lot) are India's primary price-discovery mechanism for wholesale silver.
Purity Standard
IBJA quotes silver at 999 fineness (99.9% pure); 925 sterling silver is quoted separately.
Indian silver buyers can choose between bullion dealers in established bazaars, government-backed MMTC-PAMP outlets, bank branches selling coins, and digital platforms offering fractional ownership. For physical purchases, always verify the 999 or 925 fineness stamp and request a BIS hallmark or assay certificate. Compare the quoted rate against the live IBJA feed on GoldMeter; any premium above 2% for plain bars warrants negotiation. Silver utensils and jewellery carry additional making charges (5%–30%) and attract 3% GST on metal value plus 5% GST on making charges — insist on an itemised bill. For investment-grade silver, MMTC-PAMP refineries produce internationally accredited bars that command better resale liquidity. Online platforms like Paytm and PhonePe allow purchases from as low as ₹10, backed by vault-stored physical silver.
Domestic silver prices in India are determined by a formula: LBMA London spot × USD/INR exchange rate + customs duty (~15%) + GST (3%). Currency movements therefore amplify or dampen international price swings. When the rupee weakens against the dollar — as it tends to during global risk-off episodes — Indian silver prices rise even if the dollar price is flat. Import duty changes are another lever; the 2023 duty restructuring moved silver onto a new tariff heading, briefly disrupting supply chains. Seasonal demand creates intra-year cycles: October–November (Dhanteras, Diwali) and April–June (wedding season) consistently see 10–15% higher retail footfall. On the supply side, India has negligible domestic mine production; the Zawar mines in Rajasthan produce some lead-zinc-silver, but volumes are immaterial compared to imports.
Silver's role in the Indian subcontinent stretches back millennia. The Mauryan empire's Karshapana coins (3rd century BCE) used a silver-copper alloy, establishing the metal as a monetary standard centuries before the Mughal silver rupiya. Under British rule, India drained global silver reserves through persistent trade surpluses, prompting the 1893 closure of the Indian mints to free coinage of silver. Post-independence, silver remained legal tender in the form of one-rupee coins until the 1960s. The metal's cultural significance is equally deep: Rajasthani and Gujarati households invest in silver utensils as a store of generational wealth, tribal communities from Odisha to Jharkhand use heavy silver ornaments as clan identity markers, and temple offerings across South India feature silver lamps and deity ornaments. This intertwined monetary-cultural history keeps India permanently at the centre of the global silver market.
India's silver investment landscape has diversified rapidly since SEBI approved silver ETFs in late 2022. Funds like ICICI Prudential Silver ETF, Nippon India Silver ETF, and HDFC Silver ETF now collectively manage over ₹8,000 crore in AUM, offering investors exchange-traded access without storage hassles. Silver mutual funds — fund-of-funds investing in these ETFs — add a SIP option attractive to salaried investors. For those preferring physical ownership, MMTC-PAMP and Augmont offer buy-store-sell platforms with insured vault storage. MCX silver futures (30 kg standard, 5 kg mini, 1 kg micro lots) serve as the primary hedging instrument for jewellers and industrial users. Among younger investors, silver is increasingly positioned as the "affordable gold" — a precious-metal entry point that also offers leveraged upside during commodity super-cycles due to its smaller market capitalisation relative to gold.
Silver buying in India follows a well-defined seasonal rhythm dictated by the festival and wedding calendars. January through March is a moderate period, with Makar Sankranti and Ugadi triggering regional spikes in the south and west. The April–June window is India's peak wedding season — Akshaya Tritiya in late April or early May is traditionally the single most auspicious day to buy precious metals, and silver purchases surge by 40–60 percent above the monthly average. The July–September monsoon quarter historically sees softer retail demand, and savvy investors often find the best spot prices during this lull. October unleashes the festive blockbuster: Navratri, Dussehra, and Dhanteras–Diwali compress several months of demand into a six-week window, pushing premiums 3–5 percent above IBJA rates. November–December demand tapers off but remains healthy as year-end financial planning and tax-loss harvesting influence institutional silver flows across commodity exchanges.
India's silver craftsmanship heritage spans dozens of distinct regional styles, many carrying Geographical Indication tags. Odisha's Tarakasi filigree, produced in Cuttack's Nayasarak lane, transforms fine silver wire into lace-like ornaments recognised by UNESCO as an intangible cultural heritage candidate. Rajasthan's Thewa work from Pratapgarh fuses gold motifs onto silver bases depicting miniature Rajput court scenes. Gujarat contributes the Khambhat silverwork tradition, where artisans embed semi-precious stones into oxidised silver surfaces. In the south, Karnataka's Bidriware-adjacent silver inlay work and Tamil Nadu's Swamimalai bronze-silver casting coexist with temple-oriented silver repoussé. Lucknow's Chikan-Zardozi craftsmen weave silver threads into muslin, creating garments that have adorned Mughal courts. Kolkata sustains an art-deco silversmith tradition inherited from the British Raj, producing candelabras and tea services for an international collector market. Each tradition shapes the price, purity standards, and product forms available in that region's silver market.
India's domestic silver market is structurally tiered: Mumbai serves as the national pricing anchor, publishing the IBJA reference rate that all other cities derive from. Delhi NCR is the distribution king for northern India, offering the deepest wholesale liquidity outside Mumbai. Chennai anchors southern pricing, while Kolkata controls eastern India flows. Among Tier-2 cities, Jaipur dominates silver jewellery manufacturing and exports, processing more silver into finished goods than any other single city. Ahmedabad and Surat together represent Gujarat's formidable consumption engine, driven by the state's gifting culture and diamond-set silver category. Bangalore stands out for the highest proportion of digital and ETF-based silver investment relative to physical demand. Kerala's per-capita silver spend ranks among India's highest thanks to Gulf remittances, though the state lacks a single dominant bullion centre. Price spreads between Mumbai wholesale and a typical Tier-2 retail counter range from ₹150 to ₹400 per kilogram, with transport costs, dealer margins, and local tax structures explaining the variance.
Storing silver in India requires attention to the country's diverse climate zones. In humid coastal cities like Mumbai, Chennai, and Kolkata, tarnishing occurs within weeks if silver is left exposed. Wrap each piece individually in acid-free tissue paper or anti-tarnish cloth — silica gel sachets inside the storage box absorb excess moisture effectively. Avoid storing silver alongside rubber bands, newspaper, or cardboard, as sulphur compounds in these materials accelerate blackening. For households in dry northern regions like Jaipur and Delhi, tarnish is slower, but dust abrasion can scratch polished surfaces; keep pieces in felt-lined boxes. Silver utensils used daily should be washed with mild soap and warm water immediately after use — never in dishwashers, whose detergents contain chlorides that pit the surface. For investment bars and coins, keep them in original sealed packaging; handling with bare fingers deposits oils that promote tarnishing. Professional polishing services are available at most jewellers for ₹50–200 per piece, but home cleaning with baking soda paste or aluminium-foil electrolytic baths works well for lightly tarnished items. Store silver bullion in a bank locker if the quantity justifies the annual rental cost; home safes should be fireproof and bolted to the structure. Insure high-value silver collections under a standard householder policy or a standalone valuable-articles floater, documenting each item with photographs and purchase invoices.
India's silver market is poised for structural growth driven by three converging forces. First, the solar energy push under the National Solar Mission targets 500 GW of installed capacity by 2030 — each gigawatt of crystalline-silicon panels consumes roughly 20 tonnes of silver paste, implying cumulative demand of several thousand tonnes from this sector alone. Second, the electronics manufacturing ecosystem expanding under PLI (Production Linked Incentive) schemes for semiconductors, display panels, and EV components will embed silver into India's industrial supply chain more deeply than ever before. Third, financial-product innovation — silver ETFs, sovereign silver bonds (if introduced), and fractional digital silver platforms — is democratising silver investment for the country's 600 million smartphone users. On the consumption side, rising per-capita incomes in Tier-2 and Tier-3 cities are expanding the addressable market for silver jewellery and gifting. The BIS mandatory hallmarking push, currently voluntary for silver but likely to become compulsory, will improve transparency and consumer trust, potentially unlocking pent-up demand from quality-conscious buyers who currently avoid silver due to purity concerns. India's position as the world's largest silver consumer is likely to strengthen over the coming decade.
| Grade | Purity | Common Use |
|---|---|---|
| 999 Fine Silver | 99.9% | Bullion bars, investment coins, IBJA benchmark |
| 925 Sterling | 92.5% | Jewellery, cutlery, decorative articles |
| 900 Coin Silver | 90.0% | Antique coins, collectible numismatics |
BIS hallmarking for silver is voluntary in India. Look for the 999 or 925 stamp and HUID on purchases in India.
When selling silver in India, approach bullion dealers and jewellers who operate in the same markets where you would buy — import volume areas and established retail zones offer competitive buyback rates. Dealers typically test purity using an XRF spectrometer or touchstone method and offer 95–98% of the day's IBJA rate for .999 bars with original invoices. Silver without documentation may attract a 5–10% discount after melt-and-assay testing. Exchange transactions — trading old silver for new articles — often yield better effective value than outright cash sales, as jewellers waive or reduce making charges on the new purchase. Maintain all purchase records, photographs, and purity certificates for smooth resale transactions and accurate capital gains computation.
Before visiting a dealer in India, check the live silver rate on GoldMeter to establish your reference price. Get quotes from at least two or three shops and insist on witnessing the weighing and purity testing process. For silver utensils and jewellery, the buyback value is based on pure silver content after deducting any stones, enamel, or non-silver components. Scrap and broken silver is valued purely by weight and purity after melting — expect slightly lower realisation compared to intact articles. If selling in bulk (above 500 grams), wholesale bullion dealers generally offer tighter spreads than retail jewellers.
Silver holds deep cultural significance across India—from the silver Kalash used in Hindu puja ceremonies and the silver toe-rings (bichiya) worn by married women in north India, to silver lamp offerings at temples in Tamil Nadu and Karnataka. Silver utensils gifted during weddings remain a cherished tradition in Rajasthani and Gujarati households. This deep cultural demand means that well-maintained traditional silver items — particularly mcx benchmark — can command premiums above pure metal value when sold to collectors or specialist dealers in India. Heritage and antique silver pieces with documented provenance are especially valued in the resale market.
Silver rate in India today is ₹275 per gram and ₹2,75,000 per kilogram for 999 purity fine silver, sourced from IBJA.
Silver prices fluctuate due to LBMA spot changes, USD/INR currency movements, MCX futures activity, and shifts in industrial and retail demand.
Silver offers portfolio diversification and tends to outperform during commodity super-cycles. Its industrial demand (electronics, solar, EVs) provides a growth floor that gold lacks.
Indian silver price = LBMA spot × USD/INR rate + ~15% customs duty + 3% GST. This makes domestic prices typically 18–20% above the international dollar price per kg.
999 silver is 99.9% pure (fine silver), used for bullion and coins. 925 silver (sterling) is 92.5% pure with 7.5% copper alloy, preferred for durable jewellery and utensils.
GoldMeter provides live silver rates updated multiple times daily from IBJA data, along with 30-day historical charts and per-gram breakdowns.