India’s centuries-old love affair with gold is once again under the spotlight, but this time, the conversation is shifting from buying more gold to making existing holdings work harder.
Earlier this month, Prime Minister Narendra Modi urged citizens to voluntarily pause gold purchases for a year, a move aimed at easing pressure on India’s import bill and strengthening macroeconomic stability. Soon after, the government raised import duties on gold from 6 per cent to 15 per cent, reinforcing its intent to curb imports of the precious metal.
