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India Inc moves to curb gold buying and foreign travel after Modi’s FX warning
Economy
Published on 12 May 2026
Work-from-home and spending cuts are back on the table
Indian businesses are reassessing spending and work-from-home practices after Prime Minister Narendra Modi urged citizens to save foreign exchange amid West Asia tensions. Industry leaders are pushing for more domestic investment as companies weigh travel and consumption changes. While jewellery stocks fell, the government denied any plan to raise gold or silver import duties, leaving firms to monitor market signals and adjust strategies.
- Businesses are reviewing travel and FX-heavy spending after Modi’s appeal
- Work-from-home and budget controls are being reconsidered across sectors
- Jewellery stocks dipped, but officials denied higher gold or silver duties
- Firms are shifting toward domestic investment and tighter planning
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times