Why India’s PM is asking 1.4 billion people to skip gold for a year
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3 Articles
PM Modi Says Not to Buy Gold — Here's What He Really Meant
It stopped a lot of people mid-scroll. PM Modi says not to buy gold and for a country that purchases roughly 800 tonnes of the metal every year, that's not a small ask. Speaking directly to Indian families, Modi urged households to voluntarily hold back gold purchases for at least one year, framing it as a patriotic and economic act. The statement landed loud. Gold is not just jewelry in India. It's savings, security, inheritance, and identity a…
Why India’s PM is asking 1.4 billion people to skip gold for a year
"For a year, be it any function, we shouldn’t buy gold jewellery.”With that line at his party's event in Hyderabad on May 10, Prime Minister Narendra Modi did something unusual even by Indian political standards: he asked households to change a habit that sits at the heart of weddings, savings and social status.The appeal landed at a sensitive moment as global oil prices had surged on the back of the US-Iran conflict, the rupee had weakened shar…
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