Hyderabad, May 11 -- Rajesh Rokde, Chairman of the Gem and Jewellery Council (GJC), on Monday said India's economic strength must take precedence over individual preferences while supporting the Prime Minister's appeal for responsible gold consumption.
Addressing a public meeting in Hyderabad on Sunday, PM Narendra Modi urged citizens to avoid non-essential gold purchases for one year, defer unnecessary foreign travel, and adopt Covid-era efficiency measures such as work-from-home arrangements in national interest.
In a statement, Rokde said rising gold imports were exerting pressure on the country's foreign exchange reserves and current account deficit, while India already possesses thousands of tonnes of idle household gold.
He said th...