Silver Price in Indian Rupees Today
Track the live silver rate in INR per kilogram and per gram. MCX silver futures data and international spot prices with real-time USD/INR conversion.
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Understanding Silver Prices in India
Silver has deep cultural significance in India, used widely for jewelry, utensils, and gifting. The domestic price is influenced by the international spot price, the USD/INR exchange rate, and import duties of approximately 15%.
- MCX standard unit: rupees per kilogram (standard contract: 30 kg)
- Import duty: ~15% (customs + AIDC), same structure as gold
- Annual imports: 5,000-8,000 tonnes, primarily for jewelry and industrial use
- Growing solar panel manufacturing is driving significant new industrial silver demand
- Silver ETFs on NSE/BSE (ICICI Prudential, Nippon India) offer convenient investment access
- Physical silver purchases in India are subject to 3% GST
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Frequently Asked Questions
What is the silver price in India today?
The silver price in India fluctuates throughout the day based on MCX futures trading, international spot price movements, and the USD/INR exchange rate. Visit our India prices page for real-time silver rates in INR per kilogram and per gram. MCX silver trades from 9 AM to 11:30 PM IST on weekdays.
Why is silver quoted per kg in India?
Silver in India is traditionally quoted in rupees per kilogram because the metric system is standard in India and silver is much less valuable per unit weight than gold. The MCX silver contract uses kilograms as its unit (standard lot: 30 kg). International markets quote silver per troy ounce (31.1 grams), which can be converted to per-gram or per-kg prices for Indian comparison.
What is the MCX silver price?
The MCX silver price refers to silver futures contracts traded on the Multi Commodity Exchange in Mumbai. MCX silver is quoted in Indian rupees per kilogram and is available in standard (30 kg), Mini (5 kg), and Micro (1 kg) contract sizes. The MCX price includes the international silver price plus import duty premiums and reflects Indian market supply and demand conditions.
How does import duty affect Indian silver price?
India's silver import duty (~15% including customs and AIDC) is added to the international price, creating a premium for domestic silver. For example, if international silver converts to INR 75,000 per kg, the import duty adds approximately INR 11,250, pushing the base price to around INR 86,250 before GST (3%) and dealer margins. Any changes to the import duty rate directly affect domestic silver prices.