Gold and jewellery hold a unique place in India’s cultural heritage, particularly during festive and wedding seasons, such as the period that India will soon enter in October-December. File
| Photo Credit: Reuters
While welcoming Prime Minister Narendra Modi’s call for prioritising locally-made products and reducing gold imports, the All India Gem & Jewellery Domestic Council (GJC) has said that India must balance “economic patriotism” and its cultural traditions when it comes to gold jewellery.
It argued that the sector contributes “nearly 7-8%” to the economy and supports “millions of livelihoods”. The GJC was reacting to Prime Minister Narendra Modi’s recent and repeated appeal to all Indians to stop foreign trips and weddings, to buy local, and to only buy gold if necessary.
“The Prime Minister’s appeal for economic patriotism and greater preference for Swadeshi products is timely and welcome,” Rajesh Rokde, Chairman of the All India Gem & Jewellery Domestic Council (GJC) said.
“While we fully support the Prime Minister’s call for restraint when gold is viewed purely as bullion or an investment instrument, jewellery consumption remains closely linked to culture, craftsmanship, and livelihoods,” Mr. Rokde added.
He said that gold and jewellery hold a unique place in India’s cultural heritage, particularly during festive and wedding seasons, such as the period that India will soon enter in October-December.
“The jewellery industry, contributing nearly 7-8% to the economy and supporting millions of livelihoods, is an integral part of India’s growth story,” Mr. Rokde asserted.
“As a ₹10 lakh crore industry, the Indian jewellery sector must continue to grow responsibly, with greater transparency, value creation, and alignment with national priorities — balancing economic patriotism with India’s enduring cultural traditions,” he added.
Published – September 03, 2026 04:43 pm IST
