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VERIFIEDET Finance·negative

PM Modi's appeal to postpone gold buying could hurt jewellery industry, says GJC

AI Summary
  • ·The gems and jewellery sector anticipates challenges due to Prime Minister Narendra Modi's appeal to postpone gold purchases.
  • ·Industry leaders suggest unlocking existing household gold through a Gold Monetisation Scheme to reduce imports.
  • ·The appeal aims to conserve foreign exchange amid the West Asia crisis, with the government urged to reconsider.
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