Indian investors shift from gold to silver, chasing higher returns as prices hit record highs and imports surge rapidly.

• Silver prices rose 21% in 3 months, outperforming gold’s 5% rise; domestic silver hits ₹1.14 lakh/kg record.
• Investment driven by solar, EV demand, and production gaps; silver ETFs see record inflows, outpacing gold ETFs.
• Imports soared 431% in May; urban investors join traditional rural buyers amid equity volatility and diversification push.