Modi urges Indians to cut gold, fuel, edible oil buys for a year, favour Swadeshi
PM's consumption advisory lands mid-festive season, pressuring jewellery, fuel retail, FMCG and outbound travel categories. Gold imports hit $72B (+24%), edible oil $19.5B, with 10% cooking oil cut urged. OMCs bleeding Rs 30,000 cr/month as Brent nears $105.
PM Modi urged Indians to curb gold, fuel, edible oil purchases and overseas travel for a year, and favour Swadeshi goods—a consumption advisory with direct implications for jewellery, fuel retail, FMCG and travel categories during the festive season.