New Delhi, May 11, 2026: Experts have said that Prime Minister Narendra Modi’s appeal to moderate non-essential gold purchases could help ease pressure on India’s foreign exchange reserves amid global economic uncertainty.
Analysts noted that gold imports account for a significant share of India’s import bill, and any reduction in demand may help improve the current account balance and support forex stability.
They added that while gold remains an important household asset, more cautious consumption could contribute to broader macroeconomic resilience during periods of external volatility.
The comments come as India faces higher import costs due to rising global commodity prices, particularly crude oil, which continue to influence the country’s external financial position.
Experts further suggested that coordinated efforts to reduce non-essential imports and strengthen domestic production could help reinforce long-term economic stability.