New Delhi, Sep 9: Asking Indians to step away from the jewellery counter ahead of the festival season carries political risks. Gold in India is more than a commodity. It is a form of savings, an intergenerational asset and a deeply entrenched cultural tradition. Prime Minister Narendra Modi’s public plea to avoid unnecessary gold purchases puts concern about the import bill up against long-standing buying habits and the interests of the domestic jewellery trade.

The electoral calendar adds a political dimension. Next year, Uttar Pradesh, Uttarakhand, Himachal Pradesh and Punjab head to the polls. The domestic gold trade includes merchant communities that have traditionally formed part of the BJP’s support base.

A sustained decline in gold buying could depress jewellery sales and unsettle sections of that constituency ahead of these elections. The appeal suggests a willingness to deliver an uncomfortable economic message, although its political cost will depend on whether consumers respond and how the trade is affected.

The economic concern is the rising bullion import bill amid wars and global uncertainty. Higher international gold prices have increased the cost of meeting Indian demand, even as import volumes have declined. According to data reported by The Economic Times, India’s gold imports rose more than 24 per cent to an all-time high of $71.98 billion in 2025–26. This occurred even as the volume imported fell nearly 4.8 per cent to roughly 721 tonnes.

India bought less physical gold but paid a substantially higher dollar bill. Gold imports add to the demand for foreign exchange. A surge in festive buying can therefore widen the trade deficit and, depending on other external flows, add to pressure on the rupee.

However, framing PM Modi’s appeal purely as a response to global gold prices offers incomplete context. It also draws attention to the government’s limited progress in reducing dependence on imported crude oil. Earlier ambitions to bring down that dependence have proved difficult to realise.

With limited scope to curb essential oil imports without affecting economic activity, discretionary imports become a more accessible target. Gold is an obvious candidate, although restraining purchases would not resolve the underlying dependence on imported energy.

Nor is all gold buying simply consumption that households can readily postpone. For many buyers, it is also a means of saving and providing financial security. That complicates the attempt to influence demand through an appeal for restraint.

Reducing gold imports requires more than a Prime Ministerial plea. It also requires more effective ways to bring existing domestic holdings into circulation and offer alternatives to those buying gold primarily as an investment. Indian households and religious institutions are estimated to hold 20,000 25,000 tonnes of physical gold. This represents substantial wealth, but much of it remains outside formal financial channels. Efforts to mobilise it have met with limited success.

The Gold Monetisation Scheme struggled to attract household gold, partly because families are reluctant to melt down ancestral jewellery in return for interest. Sovereign Gold Bonds offered an alternative for investors seeking exposure to gold prices, but could not substitute for jewellery bought to wear, gift or pass on.

The distinction matters. A gold-linked financial investment and a family heirloom serve different purposes. The difficulty is not simply that policy has failed to turn physical gold into a financial asset. It is that financial products cannot fully replace the cultural and practical uses of jewellery.

Without addressing those differences, efforts to shift demand away from physical gold will have limits.

There are precedents for PM Modi taking decisions that unsettled established interests, including sections of his own support base. But comparisons between the gold appeal and structural reforms need care.

As Chief Minister of Gujarat, he implemented the Jyotigram Yojana, which separated agricultural power feeders from those supplying other rural consumers. The programme faced resistance from sections of the farming community but changed how rural electricity was supplied.

As Prime Minister, his government introduced the Goods and Services Tax, seeking to create a unified national market. The transition brought significant adjustment and compliance costs, particularly for smaller businesses and traders, including communities traditionally associated with the BJP.

The Insolvency and Bankruptcy Code similarly challenged the position of established business promoters. It provided creditors with a framework to resolve defaulting companies, potentially displacing existing owners. Its implementation has also exposed shortcomings requiring further reform.

These measures changed institutions, rules and incentives. An appeal to avoid gold purchases relies instead on voluntary restraint. It may reflect a willingness to challenge established preferences, but it is not equivalent to a change in taxation, credit rules or the organisation of an essential service.

Its economic effect will depend on whether households alter their buying decisions. The intention to ease external pressures is clear; the scale and durability of the response are not.

Demonetisation in 2016, ahead of the following year’s Uttar Pradesh election, provides another example of a disruptive intervention before a major political contest. It does not, however, establish that taking an electoral risk necessarily produces economic gains.

The gold appeal is also materially different. Rather than imposing a sudden policy change, PM Modi is asking consumers to give greater weight to the national economic cost of their purchases. Whether that argument outweighs considerations of tradition, savings and expected returns remains uncertain.

The immediate gamble is that some households will defer buying without a wider backlash from the jewellery trade. Even then, postponed purchases may return later, limiting the lasting effect on imports.

PM Modi’s intervention brings the foreign-exchange cost of gold into the public debate. But the test is not the boldness of the appeal. It is whether the appeal changes demand, and whether policy can provide credible savings alternatives and make better use of gold already held in India. Political gains, should they follow, would be a separate outcome.

(Rakesh Khar is a seasoned editor. He writes at the intersection of politics, business, technology and society. Views expressed are personal)

New Delhi, Sep 9: The Bharatiya Janata Party (BJP) on Wednesday announced that it will conduct a special month-long campaign titled ‘Seva Sankalp Abhiyan’, starting September 17 to mark the completion of 25 years of Prime Minister Narendra Modi’s public life and service.

BJP National President Nitin Nabin, addressing a press conference at the party headquarters, announced that PM Modi will complete 25 years of public service on October 7. To mark this occasion, the BJP will conduct a special month-long campaign from September 17, which is the Prime Minister’s birthday, to October 17.

“Prime Minister Modi’s journey of service began on October 7, 2001, when he assumed office as the Chief Minister of Gujarat. Over the past 25 years, he has worked continuously, guided by the mantra of public service to national service,’ Nabin said.

“The Prime Minister’s public life is characterised by his unwavering focus on his objectives and resolutions from day one, and his persistent efforts to bring them to fruition,” he added.

The BJP President asserted that when PM Modi assumed charge of the top office in 2014, the atmosphere in India was “marked by despair and policy paralysis”.

During that period, he said, the Indian economy was counted among the ‘Fragile Five’; however, now India ranks among the “world’s fastest-growing major economies”, and the country’s stature and prestige on the global stage have steadily risen.

“PM Modi’s journey began as an ordinary BJP worker, and today he discharges his responsibilities as the nation’s ‘Pradhan Sevak’. Clear vision, firm resolve, and continuous efforts to bring about positive societal change have shaped this journey,” he said.

Nabin stated that under PM Modi’s leadership, the country has strengthened its cultural identity and heritage alongside its development. Citing the Ram Mandir, Kashi Vishwanath Corridor, and the Somnath and Mahakal corridors, he said the Modi government has worked to “preserve, restore, and develop the nation’s cultural heritage”.

Additionally, referring to Narendra Modi’s tenure as the Chief Minister of Gujarat, the BJP chief mentioned how he worked to ensure water supply to the people through the Narmada project, while also making efforts to establish the state as a major hub for development and investment through the ‘Vibrant Gujarat’ initiative.

Linking the Prime Minister’s development journey from Gujarat to the national level, Nabin noted that this same vision drove the implementation of large-scale development schemes across the country.

“While the nation’s youth once faced an atmosphere of despair, a sense of hope and optimism emerged after 2014,” he said.

Citing the rise of startups and unicorns, he noted that India now ranks among the world’s leading nations for startups. He asserted that the country’s youth are no longer merely “job seekers” but have emerged as “job creators”.

Highlighting sports initiatives like ‘Khelo India’ and ‘Fit India’, he noted that Indian youth are now representing the nation across various fields.

The BJP chief further mentioned that PM Modi has championed the concept of “women-led development” and highlighted the continuous efforts made to enhance women’s economic participation by referencing schemes like ‘Beti Bachao, Beti Padhao” to “Lakhpati Didi.

He also mentioned the ‘Nari Shakti Vandan Adhiniyam’, noting that it represents a “significant step” toward providing political representation to women and ensuring their participation in policymaking.

Nabin added that Prime Minister Modi has transformed the traditional perspective regarding border areas.

“Previously, border villages were referred to as the country’s ‘last villages’, but the government redefined their role and importance by designating them as ‘India’s first villages’,” he added.

“The BJP observes Prime Minister Modi’s birthday as ‘Seva Diwas’ (Day of Service). In this spirit, a month-long ‘Seva Sankalp Abhiyan’ will be organised this year from September 17 to October 17. It is the BJP’s responsibility to take the message of public service to as many people in society as possible. Through this campaign, Prime Minister Modi’s work spanning 25 years of public life — encompassing service, development, and nation-building — will be highlighted to the public,” Nabin said.

“The Prime Minister’s 25-year journey of service should be viewed not merely as a series of political achievements, but as an unwavering commitment to serving the people and the nation,” the BJP chief said, while calling upon party workers and the general public to join the campaign.

New Delhi, Sep 9: The Narcotics Control Bureau (NCB) has secured the conviction of two drug traffickers in connection with the seizure of 1,127 kg of Ganja in Maharashtra, in a major success in its efforts to combat drug trafficking and further the vision of a ‘Drug-Free India’.

The Additional Sessions Judge, Special NDPS Court, Biloli, Nanded, Maharashtra, on September 8, convicted two accused persons, Gokul Narayan Rajput and Sunil Yadav Mahajan, in connection with the seizure made by the NCB Mumbai Zonal Unit.

The case pertains to the interception of a truck bearing registration number MH-26-AD-2165 on November 15, 2021, near Manjram village in Naigaon taluka of Nanded district, Maharashtra. During a search of the vehicle, NCB officers recovered 49 bags containing 1,127 kg of Ganja. The contraband, along with the truck and other articles, was seized in accordance with the law.

Rajput, the driver of the truck, and Mahajan, the co-driver, were arrested in connection with the case. The prosecution established before the court that both accused were in conscious possession of a commercial quantity of Ganja and had failed to provide a satisfactory explanation for their possession.

After examining the evidence and material on record, the court held that the prosecution had proved the offence beyond reasonable doubt under Section 20(b)(ii)(C) of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985.

The court subsequently convicted both accused and sentenced each of them to 10 years of rigorous imprisonment (RI) and imposed a fine of Rs 1 lakh. In case of default in payment of the fine, each accused will undergo an additional six months of rigorous imprisonment.

The court also ordered the confiscation of the truck and other relevant seized articles in accordance with the provisions of the NDPS Act, subject to the statutory process.

The conviction underscores the NCB’s commitment to effective investigation and prosecution of drug trafficking cases and its resolve to dismantle drug trafficking networks, thereby contributing to the vision of a ‘Drug-Free India’.

The NCB has also appealed to citizens to support its fight against drug trafficking. Information related to the sale, trafficking or distribution of narcotic drugs can be shared by calling the MANAS-National Narcotics Helpline toll-free number, 1933. The identity of the informer will be kept confidential.