莫迪年内第二次呼吁印度民众非必要勿买黄金

Odaily Planet Daily News: Indian Prime Minister Modi stated that unless necessary, Indian citizens should avoid buying gold, reiterating his previous call to limit gold demand as the widening trade deficit and weakening rupee are putting pressure on the Indian economy. Modi made these remarks as local media reported that the government is considering lowering import tariffs on gold and silver, after previous tariff hikes failed to curb inflows of the metals. This is Modi's second such appeal this year.

In May, he urged Indian citizens to avoid buying gold for at least a year to conserve foreign exchange reserves. Gold is India's second-largest import item after oil and a major source of its trade deficit. In the first four months of the current fiscal year starting in April, India's gold imports surged over 32% year-on-year, further intensifying pressure on the rupee. India's trade deficit widened to nearly $32 billion in July, the highest level since January this year. In an online video, Modi said: "If it's not necessary, don't buy gold." He noted that with wars disrupting global supply chains, India needs to enhance its economic self-sufficiency to sustain growth. He also urged citizens to buy locally made products and avoid traveling abroad for tourism and weddings. (Jin Shi)