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Modi urges delaying gold purchases but GJC warns jewellery industry faces tough slowdown
Economy
Published on 11 May 2026
Industry wants household gold monetised to avoid imports
After Prime Minister Narendra Modi’s appeal to postpone gold buying, India’s gems and jewellery sector is warning of potential pain for jewellers. The GJC says instead of delaying demand, the government should unlock existing household gold via the Gold Monetisation Scheme to cut imports, ease pressure on foreign exchange, and respond to the West Asia crisis. Officials are being urged to reconsider.
- GJC warns Modi’s gold delay call could hit jewellery demand
- Industry suggests monetising household gold instead of waiting
- Goal is reducing imports and protecting foreign exchange
- Request to reconsider the decision amid West Asia uncertainty
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times