World Gold Council launches Swarnim Udaan 2047: Unlocking the Full Potential of GoldTowards Viksit Bharat 2047An ambitious vision for gold’s role in India’s journey towards developed economy by 2047
by Prashant Kapadia/NHN
- A multi-decade vision to elevate gold as a key strategic contributor for Viksit Bharat in 2047
- The ambitions include 10-15% domestic mining, 10-15% domestic gold mobilisation, India becoming
the #1 global jewellery exporter, stronger policy and institutional coordination through a proposed
National Gold Board and a Gold Innovation Centre to catalyse innovation and technology adoption
across the gold value chain.
Mumbai, August 4, 2026: The World Gold Council today released a landmark vision document for Indian gold
industry titled “Swarnim Udaan 2047: Unlocking the Full Potential of Gold Towards Viksit Bharat 2047,”. The
report, developed with Monitor Deloitte as knowledge partner, sets out a long-term roadmap to reposition gold
as a strategic economic lever for India’s economic growth and global competitiveness. As India advances toward
its US$30 trillion economy vision by 2047, the report positions gold as a strategic national asset that can
strengthen financial resilience, exports, innovation, responsible domestic value creation and advanced
manufacturing. It calls for coordinated policy and institutional action to unlock greater value across the
ecosystem.
Speaking on the Swarnim Udaan 2047 report, David Tait, CEO, World Gold Council, said, “India is already
central to the global gold ecosystem, and its role is set to become even more significant as global supply chains
evolve, financial markets deepen, and strategic technologies advance. Gold’s importance goes well beyond
investment and jewellery; it is increasingly critical to industrial innovation, financial resilience and economic
security. Swarnim Udaan 2047 sets out a clear pathway for India to modernise and strengthen its gold market
— enhancing resource security, supporting financial deepening, enabling advanced manufacturing, and
contributing to long-term, sustainable economic growth.”
Sachin Jain, Regional CEO, India, World Gold Council said, “Gold has always been deeply embedded in India’s
cultural and economic fabric. The opportunity now is to unlock its full potential as a strategic national asset
aligned with India’s economic priorities. Through coordinated action across mining, recycling, financialisation,
jewellery, exports and innovation, gold can become a stronger contributor to India’s Viksit Bharat
Swarnim Udaan represents the ascent of India’s Sone ki Chidiya (“Swarnim Udaan 2047”)- rooted in heritage,
powered by innovation and aligned with national ambition India can secure its golden future and build a legacy
that endures for generations to come.”
Harsh Kapoor, Partner, Monitor Deloitte, South Asia said, “Swarnim Udaan 2047 presents a bold vision for
repositioning gold from a traditional ‘store of value’ to a strategic national asset for India’s future economy. By
bringing together policy reform, institutional coordination and innovation, the report outlines how greater value
can be unlocked across the entire gold ecosystem while strengthening economic resilience, industrial
competitiveness, and long-term value creation. We are proud to have partnered with the World Gold Council in
shaping this roadmap towards a Viksit Bharat.”
Building on the current size and strengths of India’s gold industry, the report outlines five interconnected pillars
to unlock the economic potential of India’s gold ecosystem to transform into a more formal, resilient and globally
competitive gold economy:
- Promoting “Mine in India”: The roadmap proposes meeting 10-15% of India’s annual gold demand
through domestic mining by 2047 for self-reliance supported by designation of Gold as a “Strategic
Mineral” under MMDR Act, stronger exploration incentives for early-stage mining, streamlined
clearances, updated and investor-ready geological data repositories, advanced exploration
technologies and workforce development. - Making India “Jeweller to the World”: Moving India to the position of the world’s #1 gold jewellery
exporter by 2047 demands target-market diversification beyond the traditional diaspora, design localization, “Made in India” branding proposition, modernised clusters, artisan upskilling and targeted
export support programmes. Key proposals include the “Karigar Connect” initiative to modernize
artisan clusters, the Gold Jewellery Technology Upgradation Fund, and global showcase platforms like
India Gold Fashion Week. - Enabling greater financialisation of Gold: To mobilise 10-15% of the country’s household gold into the
formal financial ecosystem supported by active participation of banks and bullion banking reforms.
Households currently hold an estimated 31,000 tonnes of gold, valued at approximately ₹314.9 lakh
crore (US$3.4 trillion). Monetising even 1% of this idle stock annually could substitute gold imports
worth around ₹3.1 lakh crore (US$34 billion), reduce import dependence while unlock significant
domestic economic value. - Reimagining gold jewellery for the modern consumer: Adapting the industry to India’s 380 million-plus
and growing Gen Z cohort through phygital retail experiences, modern designs, stronger hallmarking
and traceability, and everyday lifestyle positioning. - Unlocking gold’s potential as a strategic national asset and mineral: The report envisions a broader
role for gold as a strategic national asset, supporting India’s ambitions for advance manufacturing,
economic resilience, industrial competitiveness and sustainable long-term development. With
electronics accounting for 80% of global industrial gold demand and India’s semiconductor market
projected to reach US$750 billion by 2047, gold can support high-tech sectors such as electronics,
semiconductors, biotechnology, diagnostics, aerospace, AI and quantum technologies.
To support execution, the report proposes –
- a National Gold Board, in line with NITI Aayog-Watal Committee recommendations (2018). As an apex
platform, the Board would coordinate stakeholders, align policy, rationalise regulation, strengthen
market infrastructure and monitor implementation. - a Gold Innovation Centre to catalyse research, capability building, technology adoption, digitalisation,
sustainability and market development across the gold value chain. - a multi-stake holders task force to drive implementation roadmap.
The full “Swarnim Udaan 2047: Unlocking the Full Potential of Gold Towards Viksit Bharat 2047” report is
available for download at here.
About World Gold Council
We are a membership organisation that champions the role gold plays as a strategic asset, shaping the future
of a responsible and accessible gold supply chain. Our team of experts builds understanding of the use case
and possibilities of gold through trusted research, analysis, commentary, and insights. We drive industry
progress, shaping policy and setting the standards for a perpetual and sustainable gold market.