The World Gold Council (WGC) has introduced “Swarnim Udaan 2047”, a comprehensive long-term strategy designed to unlock the full potential of India’s gold sector and support the nation’s aspiration of becoming a developed US$30 trillion economy by 2047. Prepared in collaboration with Monitor Deloitte, the roadmap outlines policy reforms and industry initiatives aimed at making gold a stronger driver of economic growth, innovation, exports and financial inclusion.
The report highlights a multi-dimensional approach to strengthening the gold ecosystem by promoting domestic mining, expanding jewellery manufacturing, encouraging the financialisation of idle household gold and boosting technology-driven applications. Among its key targets are meeting 10–15% of India’s annual gold demand through domestic mining, integrating 10–15% of household gold holdings into the formal financial system, and positioning India as the world’s leading exporter of gold jewellery by 2047.
To support these ambitions, the roadmap recommends the creation of a National Gold Board to improve policy coordination and a Gold Innovation Centre to accelerate research, technological advancement and industry modernisation. It also advocates stronger collaboration among government agencies, industry stakeholders and financial institutions to ensure effective implementation.
According to David Tait, India already plays a pivotal role in the global gold market, and the proposed roadmap could further enhance the country’s resource security, manufacturing capabilities, financial markets and long-term economic resilience.
Speaking at the launch, Sachin Jain described Swarnim Udaan 2047 as a strategic blueprint that extends beyond the gold industry, aligning with India’s broader Viksit Bharat 2047 vision. He emphasised that gold should be viewed not merely as an import or savings asset, but as a catalyst for employment generation, exports, advanced manufacturing and national economic development.
The roadmap is built around five strategic priorities: expanding domestic gold production, establishing India as the global leader in gold jewellery exports, bringing household gold into the organised financial ecosystem, modernising jewellery offerings to appeal to younger consumers, and increasing gold’s use in advanced industries including semiconductors, electronics, artificial intelligence and aerospace.
With a strong emphasis on innovation, collaboration and policy reform, the WGC believes Swarnim Udaan 2047 can help transform India’s gold industry into a globally competitive and strategically significant pillar of the country’s economic future.
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