The World Gold Council (WGC) has unveiled Swarnim Udaan 2047, a long-term roadmap aimed at strengthening India’s gold ecosystem as the country pursues its ambition of becoming a $30 trillion developed economy by 2047.
Developed with Monitor Deloitte, the report calls for coordinated policy reforms across mining, jewellery manufacturing, financialisation, innovation and exports to unlock the sector’s full economic potential.
Ambitious 2047 targets
The roadmap aims to meet 10-15% of India’s gold demand through domestic mining, mobilise 10-15% of household gold into the formal financial system, and position India as the world’s largest gold jewellery exporter by 2047.
It also proposes the creation of a National Gold Board and a Gold Innovation Centre to strengthen policy coordination, technology adoption and industry development.
Management comment
“India is already central to the global gold ecosystem, and its role is set to become even more significant. The roadmap would strengthen resource security, financial markets, advanced manufacturing and long-term economic growth,” CEO David Tait said.
“Swarnim Udaan 2047 is more than a vision document. It is a new direction of travel for the gold industry and for India becoming a superpower,” Regional CEO–India Sachin Jain said.
He said gold can play a much larger role in transforming India into a $30 trillion economy, noting that the metal supports manufacturers, refiners, retailers and consumers, creates employment, boosts exports and can emerge as a stronger strategic national asset.
Five-pillar strategy
The roadmap is built around five pillars: expanding domestic gold mining, making India the world’s leading gold jewellery exporter, mobilising household gold into the formal economy, modernising jewellery for younger consumers, and increasing gold’s role in high-tech sectors such as semiconductors, electronics, artificial intelligence and aerospace.