PM Narendra Modi Appeal: After the appeal of Prime Minister Narendra Modi, people’s attitude towards buying gold in the country seems to be changing. According to a survey by LocalCircles, 61% of gold buyers said that they will avoid buying non-essential gold for the next one year. The government believes that this will help in securing the country’s foreign exchange reserves.

This report has come out at a time when gold import in India has reached a record high level. US and Israeli currency reserves are under increasing pressure due to rising imports, especially amid global tensions and economic uncertainty. For this reason, Prime Minister Modi had recently appealed to people to avoid purchasing unnecessary gold for a year.

Gold import reached record level

According to the report, India imported gold worth about $ 71.98 billion in the financial year 2026, which is more than 24% from $ 58 billion in the previous year 2025. Although the quantity of gold has decreased slightly, the total import bill has increased significantly due to increase in prices in the international market.

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“We need to save foreign exchange at all costs,” he said at an event in Hyderabad. In the survey conducted after this, 66% people believed that if people refrain from buying gold for some time, it will strengthen the country’s foreign exchange reserves. According to the report, the total import of gold and silver has increased to 102.5 billion dollars.

Change seen in people’s thinking

Of the 84,000 people surveyed, 28% said that they would significantly reduce the purchase of gold, while 36% said that they were not planning to buy gold for the next one year.

At the same time, 19% people say that despite the Prime Minister’s appeal, they will continue to buy gold only for weddings or family traditions. On the other hand, some people still consider gold as the safest investment and they say that they will continue buying it in times of uncertainty.

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