The Indian silver firms are reported to be going through a transition phase, upgrading their technologies to conform to international standards. The short supply of gold in the country and the rising prices of the yellow metal have in a way benefited silver jewellery manufacturers.
The Indian silver exports to the U.S. and the European countries have grown significantly during this period. There has been an unprecedented jump in exports of silver artifacts, utensils and other Silver products.
Earlier, the customers in Western countries preferred 14-carat white gold for diamond-studded jewellery. With the recent run-up in gold prices, this has become unaffordable. Nowadays, 14-carat white gold is being replaced by Sterling Silver- an alloy with 92.5% silver content that looks identical to 14-carat white gold. The demand for sterling silver diamond-studded jewellery has multiplied five-folds during this period.
The technology up gradations at Indian Silver manufacturing facilities has increased the popularity and demand of Indian Silver in the Western world. Earlier, Indian companies mixed Cadmium with Silver to make Sterling Silver. The western countries had prohibited the use of Cadmium owing to potential health risks. Most of the Indian Silver firms have now replaced Cadmium with Zinc and Copper. Many of them possess the most modern machinery as found in Europe.