Topic
gold imports
Trade Policy #gold#monetisation
India to Include Jewellers in Revamped Gold Monetisation Scheme to Curb Imports
The Indian government is evaluating a proposal to include jewellers in a revamped Gold Monetisation Scheme (GMS) to unlock nearly 30,000 tonnes of idle household gold. The move, supported by meetings with the RBI and industry, aims to cut dependence on imported gold—imports in May 2026 stood at $12 billion. The revised scheme is expected in August 2026.
Jul 8, 2026 1 source
FX & Currency #west asia#uncertainty
West Asia uncertainty, oil and gold imports weaken rupee: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman attributed rupee weakness to persistent West Asia uncertainty and India's import dependence on crude oil, gas, fertilisers, and gold. She noted RBI intervention using forex reserves and the impact of FII/FDI outflows to the US on reserves. The rupee's slide is not unique, with the Japanese Yen and Korean Won also falling sharply.
Jun 15, 2026 1 source