| From Business-standard.com: The Indian appetite for silver is as legendary as it is for the more expensive precious metal gold. In fact, for both the metals, this country is counted as the world’s leading importer and user. Being a voluminous importer and at times surprising the world like in 2008, Indian moves have a significant bearing on world silver prices.
In the years since 2003, India’s silver imports have seen some major fluctuations. If the high point was reached in 2008 when imports totalled 160 million ounces, thanks largely to currency arbitrage inspired buying spurt in the second half, the next year saw imports dipping to 40 million ounces..............................................Full Article: Source
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