India, May 11 -- PM Narendra Modi's appeal urging citizens to avoid "non-essential" gold purchases has once again highlighted India's heavy dependence on imported gold and the growing pressure it places on the economy.

India remains one of the world's biggest consumers of gold, importing most of its annual requirement from overseas markets. At a time when rising crude oil prices, geopolitical tensions and pressure on foreign exchange reserves are already affecting the economy, the government now wants people to reduce avoidable spending on imported goods, especially gold.

The appeal also comes as gold prices remain near record highs and more Indians turn to gold as a safe investment amid uncertain global conditions.

What Did PM Modi Ap...