PM Modi urges Indians to defer gold, foreign travel as rupee hits 95.75; jewellery and travel retail face demand squeeze
CEA Nageswaran flags rupee defence as FY27 priority after 6% YTD slide and $23bn FPI outflows. Modi's swadeshi pitch—delay gold buys, skip overseas trips, prefer local goods—directly hits jewellery chains, outbound travel agents, and import-heavy premium retail, while tilting wallet share to domestic brands.
CEA Nageswaran flags rupee defence as FY27 priority amid West Asia crisis; PM Modi urges citizens to defer gold purchases and foreign travel, prioritise local goods—directly impacting jewellery, travel retail, and import-heavy consumer categories.