World Gold Council Unveils “Swarnim Udaan 2047” to Transform India’s Gold Sector

The World Gold Council (WGC) has unveiled Swarnim Udaan 2047, a long-term strategy aimed at unlocking the potential of India’s gold ecosystem and contributing to the country’s ambition of becoming a developed US$30 trillion economy by 2047. Developed in collaboration with Monitor Deloitte, the roadmap sets out policy reforms and industry initiatives intended to make gold a stronger engine for economic growth, innovation, exports and financial inclusion.

The report adopts a multi-dimensional approach to strengthen the gold value chain. It focuses on increasing domestic mining, expanding jewellery manufacturing, financialising idle household gold and promoting technology-driven applications. Core targets include sourcing 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 deliver these objectives, the roadmap recommends institutional reforms such as establishing a National Gold Board to improve policy coordination across ministries and stakeholders, and creating a Gold Innovation Centre to accelerate research, technological advancement and modernisation within the sector. These bodies are designed to align government agencies, industry players and financial institutions around shared targets and to fast-track implementation.

The proposal emphasises that gold has roles beyond traditional perceptions as an import or household savings asset. As highlighted at the launch, gold can be a strategic catalyst for job creation, exports, advanced manufacturing and broader national development. By integrating gold more closely into formal finance and industry, the sector can help enhance resource security, strengthen manufacturing capabilities and increase economic resilience over the long term.

Swarnim Udaan 2047 lays out five strategic priorities. First, expanding domestic gold production to reduce import reliance and create upstream value. Second, establishing India as the global leader in gold jewellery exports by upgrading manufacturing skills, design capabilities and scale. Third, bringing household gold into the organised financial ecosystem through responsible financial products and digital infrastructure. Fourth, modernising jewellery offerings to appeal to younger consumers and new markets. And fifth, increasing gold’s use in advanced industries such as semiconductors, electronics, artificial intelligence and aerospace, where its unique physical and conductive properties can add high-value applications.

The roadmap stresses innovation, skills development and technology adoption across the value chain. For jewellery manufacturers, this includes design innovation, process automation and improved quality standards to compete internationally. For the financial sector, it envisions scalable products that allow households to realise the latent value of idle gold—unlocking capital for productive investment while preserving cultural preferences. For mining and upstream activities, the plan calls for sustainable practices, regulatory clarity and investment facilitation to responsibly increase domestic output.

Stakeholder collaboration is presented as essential. The roadmap advocates close coordination among central and state governments, regulators, industry associations, banks, fintech firms and research institutions. A cohesive implementation framework, clear timelines and measurable milestones would help translate strategic objectives into tangible outcomes, from job creation and export growth to improved financial inclusion.

The WGC and its collaborators argue that, with targeted policy reforms and concerted industry action, Swarnim Udaan 2047 can transform India’s gold industry into a globally competitive and strategically significant pillar of the national economy. By elevating gold’s role across mining, manufacturing, finance and technology, the initiative seeks to generate economic value, foster innovation and support India’s broader development goals through to 2047.