The World Gold Council (WGC) has unveiled “Swarnim Udaan 2047: Unlocking the Full Potential of Gold Towards Viksit Bharat 2047,” a long-term roadmap that positions gold as a strategic contributor to India’s ambition of becoming a developed, US$30 trillion economy by 2047.
Developed with Monitor Deloitte, the report calls for coordinated policy reforms to strengthen mining, jewellery manufacturing, financialisation, innovation and exports. It sets ambitious goals of meeting 10-15% of India’s gold demand through domestic mining, mobilising 10-15% of household gold into the formal financial system, and making India the world’s largest gold jewellery exporter by 2047. It also proposes a National Gold Board and a Gold Innovation Centre to drive policy coordination and technology adoption.
“India is already central to the global gold ecosystem, and its role is set to become even more significant,” said David Tait, CEO, World Gold Council, adding that the roadmap would strengthen resource security, financial markets, advanced manufacturing and long-term economic growth.
Speaking at the launch in Mumbai, Sachin Jain, Regional CEO – India, World Gold Council, said Swarnim Udaan 2047 is more than a vision document. “It is actually a new direction of travel for the gold industry, but also for India becoming a superpower,” he said. “It is not about one organisation. It is about collaboration. It is about the whole industry coming together. It is about one direction of travel.” Jain said the roadmap aligns with Hon’ble Prime Minister Shri Narendra Modi’s vision of Viksit Bharat 2047, arguing that gold can play a much larger role in transforming India into a US$30 trillion economy. “Gold is often viewed through a very narrow lens. We talk about imports or household savings. But gold connects a wider economic ecosystem of manufacturers, refiners, retailers and consumers. It creates employment, supports exports and can become a much stronger strategic asset for the nation.”
The roadmap rests on five pillars: expanding domestic gold mining; transforming India into 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, AI and aerospace.
To execute the vision, the report recommends establishing a National Gold Board, a Gold Innovation Centre and dedicated multi-stakeholder task forces to accelerate implementation across the gold value chain.
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