JB Insights
India Emerges as Global Leader in Silver Jewellery Growth in 2024
Driven by rising industrial demand, policy support, and a preference for high-purity designs, India takes center stage in the global silver market, according to the World Silver Survey 2025.
India has solidified its position as a global powerhouse in silver jewellery fabrication in 2024, playing a pivotal role in the metal’s record-breaking industrial and consumer demand, as per the latest World Silver Survey 2025 by the Silver Institute
Global industrial demand for silver reached an all-time high of 680.5 million ounces (Moz), fueled by the expanding green economy and rapid growth in AI-related technologies. India stood out with a 4% rise in industrial silver demand, second only to China, underscoring its growing importance in the global silver landscape.
Jewellery fabrication—India’s traditional stronghold—also saw robust growth. Global silver jewellery demand increased by 3% to 208.7 Moz, with India contributing the majority of that rise. This surge was attributed to a combination of factors, including a cut in silver import duty, a resilient rural economy, and a rising consumer preference for high-purity silver pieces.
In a notable contrast to global trends, India also posted a 21% jump in demand for silver coins and bars, even as worldwide demand declined. This was largely driven by bullish investor sentiment and favorable import policies that encouraged safe-haven buying.
However, the silverware segment saw a 2% decline, falling to a three-year low of 54.2 Moz, primarily due to softened demand in India’s gifting segment, where elevated silver prices dampened consumer enthusiasm.
On the supply side, global silver mine production edged up slightly by less than 1% to 819.7 Moz, yet the market remained in a structural deficit for the fourth consecutive year, with a shortfall of 148.9 Moz.
The report also warns that geopolitical tensions and potential U.S. tariffs could impact silver demand in 2025. However, strong safe-haven investment interest may help cushion any potential declines. Despite global uncertainties, silver prices rose 21% in 2024 and continue to maintain strength heading into the new year.
Riacetech Srl is a dynamic and technologically advanced company. It focuses its core business on the creation of innovative wax injectors, fully controllable and programmable. It provides all the companies in the casting industry with a wide range of totally automatic and certified machines, all with different functionalities and configurations, that are suitable for Industry 4.0 and meet all the needs of the jewellery and fashion accessories world. It also provides a wide variety of consumable products.
The RiaceWax AUTOMATIC BELT SYSTEM INTUITIVE injector belongs to the Intuitive line and retains all its features; it can inject up to 20 molds of different sizes at the same time by loading them automatically and speeding up the entire production process thanks to the self-centering function on the molds of different sizes; it can create light and very thin objects, maintaining their weight over time.
Fully controllable from a 10.1” industrial PC, it can double the standard daily production, realising up to 4800 pieces in 8 hours, injecting moulds of very different sizes with the help of only one operator and reducing the number of defective waxes.
An Android tablet is the control unit of both the machine and the loading system, with specially developed apps that also allow checking statistics and productivity. Thanks to the ability to connect remotely, it is compatible with Industry 4.0.
It is equipped with a transparent melting tank with a constant vacuum system, digital sensors to control the pressures that always allow for checking the graphs of the vacuum trend on the molds during injection from the tablets, an RFID reader, a TC-700 cooler, a 16-cmc injection syringe with final temperature regulation and a self-centring clamp with 120x90mm plates.
This machine is designed to accommodate a versatile range of mould sizes, supporting dimensions from a minimum of 50 x 30 x 12 mm up to a maximum of 120 x 90 x 47 mm. The unit itself weighs 75 kg with a physical footprint of 130 x 72 x 53 cm.
Alessio Farnetani, Sales Manager-RiaceWax, underscoring the USP, said, “This machine works without any downtime and reduces errors. There has been a good response from Indian jewellery manufacturers because this system speeds up production, maintains quality and ensures weight consistency, which is critical given rising prices of gold.”
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