According to the Indian Government, the value of Silver as a taxable commodity is 1/20th that of Gold. The recent action to increase taxes on bullion imported into India set the new taxes at 200 Rupees per 10 grams of gold and 1,000 Rupees per Kilogram of Silver. Once you break it down to compare similiar amounts of bullion, it would cost 20,000 Rupees per Kilo of Gold and 1,000 per Kilo of Silver or 20 to 1. The new rates are a doubling of the old taxes.
India's Gold imports were half of what they were last year at this time and there has been talk that some were shifting to Silver as a resource because of it's lower entrance price.
Kitco's XAU ratio this morning was 69.6. That values gold to silver at nearly 70 to 1.