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During a speech in Secunderabad, Telangana, Prime Minister Narendra Modi urged Indian citizens to adopt savings measures in response to the ongoing Iran conflict, including a one-year moratorium on gold purchases, highlighting economic concerns tied to rising global energy crises and the impact on India's foreign exchange reserves, which have been strained due to increased gold imports that now constitute a significant portion of the country's total imports. #EconomicCrisis #GoldImports #IndiaFinance #IN #IR #US

Indian jewellery retailer shares plummeted after Prime Minister Modi urged citizens to avoid gold purchases for a year to protect foreign exchange reserves, raising concerns about potential tariff hikes on gold imports amidst rising oil prices and mounting economic pressures. #GoldMarket #EconomicImpact #IndiaFinance #IN #IR