Industry experts and mining stakeholders have called for the development of a strong domestic gold production ecosystem to reduce India’s heavy dependence on imported gold and strengthen long-term supply security.
Experts said India remains one of the world’s largest consumers of gold, with the majority of demand currently met through imports. This has contributed significantly to the country’s import bill and trade deficit, particularly during periods of high global gold prices and increased consumer demand.
They emphasised the need for policy support, faster approvals, exploration incentives, and investment-friendly regulations to encourage domestic gold mining and refining activities. Industry representatives also highlighted the importance of adopting advanced mining technologies and improving geological survey capabilities to identify new reserves across the country.
According to sector analysts, expanding domestic gold production could help reduce pressure on foreign exchange reserves while creating employment opportunities and boosting the mining sector’s contribution to the economy. A stronger domestic ecosystem could also support downstream industries such as jewellery manufacturing, refining, and bullion trading.
Experts further noted that India has substantial untapped mineral potential, but mining activity has remained limited due to regulatory hurdles, environmental clearances, and low private sector participation in exploration projects.
The push for greater self-reliance in gold production aligns with broader efforts to reduce import dependence in critical commodities and strengthen India’s resource security strategy. Industry bodies have urged closer coordination between central and state governments to accelerate reforms and attract long-term investments into the sector.