India’s role as a global silver marketplace is continuing to grow, according to a new Silver Institute Market Trend Report ‘Trends in Indian Investment Demand’ and new investment opportunities are launching for the precious metal.
India is the world’s main silver fabricator and investing in silver jewellery and coins is a long-popular tradition. As new silver investment products are launching in the country, India’s role in silver investment has the potential to grow even further, the Gem and Jewellery Export Promotion Council reported on its website.
The comparatively low penetration of banking in India makes gold and silver popular investments. Although the banking sector is growing and more rural areas are increasingly embracing putting their money in banks, the silver sector is also developing to meet modern needs by embracing digital technology.
Digital investments in precious metals are increasing in popularity in India such as digital gold investment schemes. There are currently nine businesses which offer digital investment in silver in India, according to the report, and the number is set to continue to grow although adoption remains paced.
Another upcoming silver investment method is silver exchange-traded products which launched in September 2021. There are currently seven ETPs and five silver ETP Fund-of-Funds.
Copyright © 2023 FashionNetwork.com All rights reserved.