In 1967, during a severe economic crisis, Indira Gandhi introduced the Gold Control Order to reduce gold imports. She urged people to avoid buying gold jewellery so the country could save precious foreign exchange reserves. The government hoped that reduced imports would strengthen India’s economy.

Now, Narendra Modi has advised citizens to postpone buying imported gold for at least a year, even for weddings. He warned that large gold imports push foreign currency out of the country and weaken the rupee.

India has a deep cultural attachment to gold. However, leaders in both periods stressed that protecting the nation’s economy must come before personal preferences during difficult times.

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