One in three customers in India admitted that they were cheated while buying silver. Most people are now demanding from the government that hallmarking on silver should be made mandatory, so that purity and quality can be guaranteed. According to a survey by LocalCircles, 31% people who bought silver in the last 5 years said that they were cheated, while 93% people considered hallmarking necessary. This report has come at a time when the demand for silver is increasing rapidly before Akshaya Tritiya. On this festival people usually buy silver coins and jewellery.

increasing demand for silver

The demand for silver is expected to increase by 1822% in 2026. The main reason for this is that silver is cheaper than gold, its popularity is increasing in fashion and now people are becoming more aware about purity through hallmarking. Also, interest in silver as an investment is also increasing, especially to protect against inflation.

What else came out in the survey?

In the survey, 19,235 people were asked whether hallmarking on silver should be mandatory.

• 93% people supported it
• 5% said this may increase the price
• 2% did not consider it necessary

This means that it is clear that most people want confidence in buying silver.

Both price and risk are increasing

The price of silver in 2026 is estimated to be between ₹ 1.7 lakh to ₹ 1.9 lakh per kg. As prices and demand are increasing, the risk to customers is also increasing. Therefore, quality checking has become even more important.

How to check silver

Now customers can check information about silver jewelery through BIS Care app, such as purity, date of hallmarking, testing center and jeweler's registration number. This facility is applicable to products hallmarked after September 1, 2025.

New rules and grades

The Bureau of Indian Standards has prescribed 7 purity grades for silver 800, 835, 925, 958, 970, 990 and 999. Each hallmark has the BIS mark, purity grade and a unique HUID code. By 2026, more than 300 hallmarking centers are working in more than 110 districts in the country, making this facility easier than ever for customers.

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