India’s silver import curbs trigger premiums, raise concerns for ETF and industrial supply chains

India’s tighter rules on silver imports, including mandatory government approval for 99.9% purity bars, have changed domestic market dynamics. The policy shift comes amid weak global silver prices, pressure from a stronger US dollar and rising Treasury yields. The restrictions could impact silver ETFs, bullion traders and industrial users linked to electronics, AI and data centres, while domestic spot premiums have already started rising.