Spokesperson: Shri Randeep Singh Surjewala: AICC General Secretary Shri Randeep Singh Surjewala pointed out that Prime Minister Narendra Modi had first raised fears during an election speech in Banswara, Rajasthan, on April 22, 2024, by claiming that the Opposition would “snatch mangalsutras” from women, and had later appealed in Hyderabad on May 10, 2026, asking people not to buy gold jewellery for one year.

He said that gold jewellery forms an integral part of India’s cultural heritage, social customs and religious traditions, while also serving as an economic safety net for millions of women across the country. He said that over 90 per cent of India’s jewellery trade operates through MSMEs and small jewellers, with nearly 3.5 crore people dependent on the sector, including goldsmiths, traders, artisans and workers from villages to metropolitan cities.

Calling the government’s advisory against purchasing gold ornaments a “disastrous order” for the sector, the Congress leader alleged that it amounted to an attack on the livelihoods of backward-class communities and traditional artisan groups linked to jewellery manufacturing and trade. He further criticised the Centre’s decision on May 13, 2026, to increase import duty on gold and silver from 6 per cent to 15 per cent, alleging that the move would both hurt legitimate jewellers and encourage gold smuggling networks.

Shri Randeep Singh Surjewala said the gems and jewellery sector contributes more than seven per cent to India’s GDP and accounts for nearly 12 per cent of the country’s exports, with over 85 per cent of exporters belonging to the MSME category.

Raising the issue of smuggling, Shri Surjewala said that government agencies had seized more than 2.6 metric tonnes of gold during 2024-25, while industry experts estimated annual smuggling at 10 to 15 metric tonnes. He alleged that the higher import duty would further incentivise illegal trade.

The Congress leader also said that the jewellery sector had already suffered due to demonetisation, excise duty measures, GST implementation and mandatory hallmarking norms.

He called on the Centre to announce a special economic relief package for the 3.5 crore people associated with the gold jewellery ecosystem. He also urged the government to explore domestic gold mobilisation, recycling mechanisms, use of idle gold stocks and amendments to income tax provisions to permit households to lend gold to jewellers of their choice. Friday, May 15, 2026