Modi calls on Indian citizens not to buy gold unless necessary for the second time this year According to a report by Golden Finance, on September 1st, Indian Prime Minister Modi stated that unless necessary, Indian people should avoid buying gold, once again responding to his previous call to limit gold demand. The expanding trade deficit and weakening rupee are putting pressure on the Indian economy. At the time of Modi's remarks, local Indian media reported that the government is considering lowering import tariffs on gold and silver, as previous tariff increases have failed to curb the inflow of gold and silver. This is Modi's second similar call this year. In May, he urged Indian citizens to avoid buying gold for at least one year in order to conserve foreign exchange reserves. Gold is India's largest imported commodity after oil and an important source of trade deficit. In the first four months of this fiscal year, which began in April, India's gold imports increased by over 32% year-on-year, further increasing the pressure on the rupee. India's trade deficit widened to nearly 32 billion US dollars in July, reaching its highest level since January this year. Modi said in an online video, "If it's not necessary, don't buy gold." He said that as the war disrupts the global supply chain, India needs to increase its economic self-sufficiency to maintain economic growth. He also called on the public to purchase local products and avoid traveling overseas for tourism and weddings.