Page 11 - Bullion World Volume 5 Issue 05 May 2025

Bullion World | Volume 5 | Issue 05 | May 2025

Mr Michael DiRienzo, Executive Director, The Silver Institute
Mr Michael DiRienzo noted the significance of India’s role in the silver
market and shared insights from the 35th edition of the World Silver
Survey. India’s growing influence is seen not just in consumption but in
production and investment appetite. He acknowledged Hindustan Zinc as
the world’s fourth-largest silver producer. He highlighted that while global
investment in silver dropped in 2024, India acted as a stabilizing force
through consistent demand for silver-backed ETFs and physical silver. Mr
DiRienzo praised India’s resilience and expressed excitement for deeper
collaboration between Indian stakeholders and global institutions like the
Silver Institute.

Mr Michael DiRienzo
Executive Director, The Silver Institute

Mr Arun Misra, CEO, Hindustan Zinc Ltd
Mr Arun Misra presented a strategic roadmap for enhancing India’s silver
production and self-reliance. Predicting a price range of $36–37 per
troy ounce, he positioned silver as critical to India's net-zero ambitions.
He shared Hindustan Zinc’s plan to double annual silver production
from 700 to 1,200–1,400 metric tons. To foster downstream industry, he
unveiled a new Zinc Industrial Park in Rajasthan. The park will offer land
and infrastructure support for silver-using industries and is backed by
government facilitation. Mr Misra noted that India's current consumption
is 65% jewellery and 35% industrial, but this is expected to flip as clean
energy and electric vehicles (EVs) take centre stage.

Mr Arun Misra
CEO, Hindustan Zinc Ltd

Mr Surendra Mehta, National Secretary, IBJA
Mr Surendra Mehta underscored silver’s growing importance in high-
growth sectors like renewable energy and healthcare. He emphasized the
need for a structured approach similar to the gold industry. He introduced
the newly formed World Silver Council and outlined plans to host three
silver-focused events in major Indian cities. Calling for industry-wide
investment in education and responsible sourcing, Mr Mehta stressed
self-regulation, standardization of purity levels, and better retail-level
promotion. He warned that unchecked impurity levels could lead to loss of
consumer confidence.

Mr Surendra Mehta
National Secretary, IBJA

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