Bengaluru, Oct. 30 -- Silver's plunge from a record high has failed to revive festive demand in India, as broader economic pressures and fears of further price drops keep consumers from buying. While demand for investment items like coins and bars has collapsed, consumer interest in jewellery continues to hold up.

The price slump comes as the government issued permits on 22 October for about 6,500 tonnes of silver imports over the next six months, equivalent to nearly 93% of the more than 7,000 tonnes imported in 2025. The approvals ease restrictions introduced in May, when the government required prior authorization for silver imports, and tightened in June to cover silver grain and powder. The government had also raised import duties o...