SMC Global Securities Limited

PM Modi urged Indians to reduce gold purchases for a year But why? India imported nearly $72 billion worth of gold in FY26 alone, marking a 24% jump from FY25 The problem is that gold imports create massive dollar outflows for the economy. Even a 30%–40% fall in gold imports can save India nearly $20–25 billion in foreign exchange Find out which countries contribute the most to India’s gold imports and where India’s forex reserves are going #india #goldimports #modi #forexreserves #india #goldimports #modi #forexreserves