Ahmedabad is a major silver refining and trading centre in India, with Manek Chowk standing as one of the country's largest bullion trading centres by annual turnover for both gold and silver. The city is flanked by massive BIS-licensed refineries in the Changodar and Sanand industrial estates, including Shree Ambica Touch and Hindustan Gold Industries, which refine and supply silver bullion. Silver consumption in Gujarat is immense, driven by the tradition of heavy silver Kandoras (waistbands) that are essential to Gujarati bridal trousseaux. Gujarat's strong industrial base also drives demand for both investment-grade and industrial silver. The Navratri festival creates massive seasonal demand for oxidised silver jewellery and Garba accessories across the state.

Silver Traditions: Gujarati bridal trousseaux traditionally include heavy silver Kandoras (waistbands), silver payal (anklets), and silver utensil sets. During Navratri, oxidised silver jewellery and Garba accessories see massive demand across the state.