Addressing the first ever India International Bullion Summit organized by the Bombay Bullion Association through video conferencing, Shri Narendra Modi inspired the audience to raise the voice for the interests of the goldsmiths and raise their voice against smuggling. He stated that our goldsmiths should not suffer from unemployment and called for the bullion market and association to start skill development initiatives to train young goldsmiths and children of goldsmiths. Modi ji affirmed that we all must work together to make our nation the ‘Sone Ki Chidiya’ once again. He even called for exploring the opportunities in exporting handmade jewelry, which can help boost exports.
Shri Modi talked at length about the importance of gold in the lives of the people of India. “Gold is deeply associated with our lives. The 50th anniversary is called a golden jubilee and we call our good period a golden period. It is in the mind of every person that with gold comes a sense of security and a sense of respect. On important occasions we exchange gold.” He also went on to say that gold is very popular among the rural areas where banking facilities are not very advanced making people buy gold.
Shri Modi avowed that while making policies about gold, the considerations cannot only be economic but also must ensure that the common people must not feel disconnected with it. Shri Modi also shared that even a report of the RBI noted that buying gold was not simply a matter of economics but also about the mind of the people. If the Government thinks that by imposing duty the buying of gold will reduce they are wrong and even the RBI said it, Shri Modi said.
He also came down heavily on the Centre for their weak excuse on price rise and rupee falling. Shri Modi pointed, “What has happened to the Centre I do not understand. They said Rupee is falling due to imports so they said shut petrol pumps at night. For rising prices what kind of excuses they make- the north is consuming rice, the south is consuming wheat!”
Narendra Modi ji also spoke against the drawbacks of central control in this sphere under the previous regimes from the time of 1947 till 1990s. He also said that due to the Gold Control Act the skills of our goldsmiths took a beating, which is unfortunate and further said that the biggest loss for a nation is when it loses its skills. Shri Modi recalled that due to these policies gold smuggling became a very big thing, gangs emerged and anti-social elements rose. “Nobody knew that the gold control act would have such an effect on society,” he noted.
Shri Modi assured the organizers of the conference and the BBA and other people gathered that he fully understands their problems.
The audience gave a standing ovation to Shri Modi both before and after his speech.