Delhi: Amidst global uncertainties and the Indian economy’s impressive performance, Prime Minister Narendra Modi has made a significant appeal to the nation. He urged citizens to cut down on non-essential foreign expenditure, promote domestic tourism, and—most importantly—refrain from buying gold unless absolutely necessary.
Congratulating the nation on the GDP growth of 7.8% during the April-June quarter, the Prime Minister stated that this success is the result of the collective effort and resolve for self-reliance (Atmanirbharata) of 1.4 billion Indians. Let us look in detail at the key points PM Modi raised regarding gold purchases and the ‘Swadeshi’ (indigenous) spirit.
7.8% growth.
Strong numbers.
Even stronger confidence. pic.twitter.com/ZVPpnAXrVU
— Narendra Modi (@narendramodi) September 1, 2026
Gold imports place significant pressure on India’s Current Account Deficit (CAD). With this in mind, the Prime Minister urged citizens to make slight adjustments to their spending habits.
PM Modi said, “Avoid buying gold unless there is a pressing need.” Gold is a major import item for India, consuming vast amounts of foreign exchange annually. He also called upon citizens to travel within the country for holidays instead of going abroad and to adopt the ‘Wed in India’ mantra. He emphasized that the more we focus on ‘Swadeshi’ and self-reliance, the stronger our economy will become.
In his video message, the Prime Minister noted that while the rest of the world grapples with war and supply chain disruptions, the Indian economy is surging ahead. “The world is mired in war; there is an atmosphere of crisis everywhere. Since the COVID era of 2020, there has been no global stability. Despite this, India is progressing at a rate of 7.8 percent.”
Data released for the first quarter (April-June) of the financial year 2026-27 records India’s GDP growth at 7.8%. Although this is slightly lower than the 8.6% recorded in the previous quarter, it is significantly better than the Reserve Bank’s (RBI) estimate of 7%. With this, India remains the world’s fastest-growing major economy.
Currently, PM Modi is on a visit to Uzbekistan and Kyrgyzstan, where he is attending the Shanghai Cooperation Organisation (SCO) summit in Bishkek.
