Prime Minister Narendra Modi has appealed to Indian citizens to reduce gold purchases over the coming year as a measure to conserve the nation’s foreign exchange reserves. Speaking at a BJP rally in Hyderabad, Modi emphasized the importance of protecting India’s financial stability amid global economic uncertainty.
The Prime Minister’s remarks reflected concerns about the impact of international tensions, particularly the US-Iran conflict, on global markets and India’s economic position. He highlighted that reducing non-essential imports, including gold, could help strengthen the country’s reserve position during this volatile period.
Modi also stressed the need for broader conservation efforts, including measures to reduce fuel consumption across the economy. The appeal represents an effort to encourage citizens to make conscious economic choices that benefit the nation’s overall financial health and stability during uncertain times.
Source: News24 | May 12, 2026