Page 8 - Bullion World Volume 3 Issue 3 March 2023

Bullion World | Volume 3 | Issue 3 | March 2023

The Indian Silver Industrial market

Mr Kishore Choksi, Managing Director, Choksi Heraeus Pvt. Ltd

Unlike the developed world, the industrial demand for silver in India is
25% of the overall silver demand. However, due to a variety of reasons,
the industrial demand for silver in India is expected to grow significantly.
Mr Kishore Choksi, MD, Choksi Heraeus Pvt. Ltd walks us through
the long terms growth drivers of the Indian silver industrial market.
Choksi Heraeus Pvt Ltd is one of the pioneers in the manufacturing and
marketing of technology-intensive industrial products using silver and
other precious metals. Read on...

In reference to the above, we from e-vehicles and charging
request from you the coverage of stations. The growing demand for
your company, product portfolio, silver catalysts in the chemical
manufacturing capabilities, and industry for processes such as
opportunities generated due to oxidation, hydrogenation, and Mr Kishore Choksi
the government’s policies. dehydrogenation. The use of silver
Choksi-Heraeus is a joint venture
with Heraeus in Germany. The JV
specializes in manufacturing high-
tech precious and speciality metals
products and solutions. Choksi
Heraeus serves a wide spectrum
of industries, such as Automotive,
Aerospace, Defence, Switchgear,
and Jewellery.

With reference to silver from
a long-term perspective, what
is your view on the demand
for industrial products like
silver electrical contacts,
silver catalysts, silver salts, salts in the photographic industry new medical devices and therapies.
and silver paste? What are the and the growing demand for silver The increasing use of silver catalysts
demand drivers, opportunities, nanoparticles in the healthcare in the chemical industry is expected
challenges, and solutions? industry for applications such as to create opportunities for the
From a long-term perspective, the wound care and antimicrobial development of new and improved
demand for industrial products coatings. The use of silver paste in catalysts.
like silver electrical contacts, silver the production of solar panels.
catalysts, silver salts, and silver Challenges: The biggest challenge
paste will likely remain strong, driven Opportunities: The increasing today for domestic producers is
by several factors. demand for renewable energy the inverted duty structure which
sources, such as solar panels, is allows imported goods at a lower
Demand drivers: The increasing expected to drive the demand for rate than the duty on raw silver. The
use of electronics and electrical silver paste. The growing demand availability of silver may be limited
devices that require silver electrical for silver nanoparticles in the due to its relatively low abundance
contacts. Demand for switching healthcare industry presents an in the earth's crust. The high price of
contacts shall see big growth coming opportunity for the development of silver may make it difficult for some

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