2 weeks ago

Can gold recycling become India's next circular economy success?

Can gold recycling become India's next circular economy success?
Can gold recycling become India’s next circular economy success story? · thehindubusinessline.com

India is known for loving gold jewelry, but now gold is very expensive.

Prime Minister Narendra Modi asked people in India to try not to buy new gold for one year.

India buys a lot of its gold from other countries, which costs a lot of money.

A smart idea is to recycle old gold instead of buying new gold.

The cool thing about gold is that it can be melted down and reused many times without getting worse.

Families in India already own a huge amount of gold that just sits in cupboards and lockers.

New schemes could help people turn that gold into money or digital gold.

By recycling, India could need to import less gold from other countries.

This idea also helps the environment because we use what we already have.

So gold recycling could become a big success story for India's economy.

Key facts

Record gold price
Gold prices at an all-time high
PM's request
Modi urged citizens to avoid buying gold for the next year
India's import status
One of the top gold importers worldwide
Household gold stocks
One of the largest private gold stocks in the world, much of it idle
Gold recyclability
Recyclable infinitely without losing purity or quality
Proposed framework
Revamped Gold Monetisation Scheme, Digital Gold, and Electronic Gold Receipts (EGRs)
Author
Whole-time Director, Augmont
Published
August 15, 2026

Sources

Related news