National News
India’s Silver Market Grapples With A Surge In Counterfeit Silver
Impure Silver Is Proliferating Across Bars, Coins, Jewelry, and Everyday Household Items, Capitalizing On Strong Demand For The Precious Metal
—India’s booming silver market is confronting a deepening purity crisis that threatens to erode investor confidence and expose consumers to health risks, as counterfeiters exploit record-high prices with a flood of substandard metal.
Impure silver is proliferating across bars, coins, jewelry, and everyday household items, capitalizing on strong demand for the precious metal as both an investment and industrial commodity. Despite the introduction of mandatory hallmarking rules in September 2025, compliance among jewelers remains patchy, leaving buyers with little assurance about what they are purchasing.
The consequences extend beyond financial loss. Substandard silver products often contain hazardous elements such as nickel, cadmium, and lead—contaminants that typically slip in through poorly refined scrap metal. Industry officials say the average purity of recycled silver has deteriorated sharply, falling from around 85% five years ago to just 50-55% today.
Infrastructure shortfalls are compounding the problem. India, which consumes nearly 7,000 tonnes of silver annually and imports more than 80% of its requirements, has only 286 government-recognized assaying and hallmarking centers. By comparison, the gold sector is supported by 1,595 such facilities. The mismatch has created bottlenecks as silver demand surges amid supply constraints that have pushed domestic prices as much as 10% above global benchmarks.
The Precious Metals Refineries Forum, an industry body representing refiners, has issued an urgent appeal for stronger oversight. It is calling on regulators to rigorously enforce hallmarking requirements, introduce compulsory licensing for silver refiners, and rapidly expand the network of Bureau of Indian Standards (BIS)-approved refineries and testing centers to levels comparable with those for gold.
The situation reflects the challenges of managing a fast-growing market for a metal that sits at the intersection of traditional investment, jewelry, and critical industrial uses. As silver prices remain elevated, the incentive for adulteration has only grown, testing the limits of India’s regulatory framework and its ability to safeguard one of the world’s largest precious-metals markets.
National News
MMTC-PAMP Appoints Sidharth Malhotra As Brand Ambassador
As Part Of The Association, Sidharth Will Lead MMTC-PAMP’s New Integrated Campaign, ‘Purest And More,’ Showcasing The Brand’s Expanding Portfolio Across Physical Precious Metals, Digital Investments and Responsible Gold Recycling.
MMTC-PAMP, India’s only London Bullion Market Association (LBMA)-accredited Good Delivery Gold & Silver refiner, today announced acclaimed actor Sidharth Malhotra as its Brand Ambassador, marking a significant milestone in the brand’s journey to strengthen its connection with a new generation of consumers. As part of the association, Sidharth will lead MMTC-PAMP’s new integrated campaign, ‘Purest And More,’ showcasing the brand’s expanding portfolio across physical precious metals, digital investments and responsible gold recycling.
The integrated campaign showcases MMTC-PAMP’s complete ecosystem, from 24K 999.9+ purest gold and silver coins and bars to digital gold and silver, gold recycling, online purchasing and assured buyback services. Through relatable, everyday moments and festive celebrations, the campaign reinforces MMTC-PAMP’s position as India’s most trusted precious metals brand while making gold ownership more relevant, accessible and convenient for today’s consumers.
Announcing the association, Samit Guha, Managing Director and CEO, MMTC-PAMP said:
“We are delighted to welcome Sidharth Malhotra to the MMTC-PAMP family. Sidharth has built a strong reputation through authenticity, credibility and a modern outlook—qualities that closely reflect the values of our brand. As one of India’s most admired and influential actors, he enjoys a deep connect across generations, making him an ideal ambassador as we continue expanding the reach of MMTC PAMP among both seasoned investors and first-time buyers.
This partnership comes at an exciting phase in our growth as we continue to redefine precious metals ownership through innovation, responsible sourcing and world-class quality. Through our ‘Purest And More’ campaign, we are showcasing how MMTC-PAMP today offers far more than physical gold—from digital investments and online buying to gold recycling and assured buyback—while remaining uncompromising on purity and trust.”
The campaign film unfolds through a series of relatable family moments around a wedding celebration, with Sidharth naturally introducing consumers to MMTC-PAMP’s diverse offerings. The storytelling highlights that every MMTC-PAMP offering is backed by the brand’s commitment to purity, trust and convenience while reinforcing its promise of “Purest And More.”
Speaking on the association, Sidharth Malhotra said:
“MMTC-PAMP has built a remarkable reputation for purity, trust and innovation, while also modernising the way people invest in and experience precious metals. Whether it’s celebrating life’s milestones, building long-term wealth or embracing more responsible choices through recycled gold, the brand continues to stay relevant for today’s consumers. I’m excited to be part of this journey and look forward to connecting with people through the ‘Purest And More’ campaign.”
The association brings together one of India’s most recognised actors with one of the country’s most trusted precious metals brands at a time when consumer interest in certified physical gold, digital gold and sustainable precious metals solutions continues to grow. With Sidharth Malhotra as the face of the brand, MMTC-PAMP aims to further strengthen its leadership position while deepening engagement with a younger, digitally connected audience.
The campaign will be amplified across television, digital platforms, social media, print, retail stores and e-commerce channels, with dedicated creatives highlighting key offerings including digital gold and silver, festive gifting, Virasat recycled gold, Akshaya Tritiya, Diwali and MMTC-PAMP’s certified purity credentials.
Link to the TVC (YouTube):
Link to the TVC (Instagram):https://www.instagram.com/p/DciH4s7tim5//
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