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Why Modi is asking people in India to stop buying gold

Modi says households should avoid gold jewellery for a year as imports hit $72 billion and add pressure to India’s current account deficit.

Summary by The Independent
The unusual appeal from the prime minister has a direct impact on India’s foreign exchange reserves as the economy grapples with energy crisis and declining currency value, writes Namita Singh

6 Articles

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The Independent broke the news in London, United Kingdom on Wednesday, May 13, 2026.
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