In a recent social media post, Anil Agarwal, Chairman of Vedanta, emphasized the growing strategic and investment significance of silver in today’s dynamic global landscape. Drawing a comparison with traditional safe-haven assets, he wrote, “Historically, in times of uncertainty, we know that the US dollar and gold become safe havens for investors. Now, in a very unpredictable world, where the dollar is no longer totally safe and gold prices are at record highs, silver is emerging as an investor safe haven.”
With silver prices soaring to a 13-year high of $37 per ounce, the surge is being driven not only by investor demand but also by its expanding role across emerging technologies such as solar cells, artificial intelligence, nanotechnology, aerospace, and more.
Mr. Agarwal also issued a clarion call to India’s young entrepreneurs and jewellery designers to explore the untapped potential of silver as a viable and fashionable alternative to gold. “Silver jewellery also has great potential to compete with gold. An opportunity for young designers and startups,” he noted.
Vedanta Chairman Anil Agarwal has been a long-time advocate for reducing India’s silver import dependency and is committed to bolster the domestic value chain. Hindustan Zinc, Vedanta’s subsidiary, is among the top five global producers of silver, currently catering to nearly 10% of India’s silver demand. Looking ahead, Vedanta plans to double its silver output to 1,500 tonnes, supported by a bold and ambitious capacity doubling expansion plan.
