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Gold Mobilisation Urged as PM Modi Pushes No Gold Buy Strengthen Scheme to Ease India Forex
Economy
Published on 12 May 2026
Industry warns postponing purchases could hit millions
Even as Prime Minister Narendra Modi urges people not to buy gold, India’s gems and jewellery sector is asking the government to strengthen the Gold Monetisation Scheme. Industry bodies argue that mobilising idle gold from homes and recycling it can help address foreign exchange pressures, while avoiding the livelihood risks they say come from deferring gold purchases.
- Industry wants stronger Gold Monetisation Scheme amid no gold buy message
- Idle gold mobilisation and recycling seen as better than delaying purchases
- Proposed approach could help manage foreign exchange concerns
- Sector warns deferring gold buying may affect millions of livelihoods
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times