India aims to produce 20% of gold domestically by 2047
India is setting a big goal: by 2047, it hopes to produce 20% of the gold it uses each year right here at home.
Right now, even with plenty of gold in the ground, the country only manages about 1.6 tons a year, way less than its annual demand of around 800 to 850 tons.
The World Gold Council (WGC) says this could change if India invests more and updates its mining policies.
Andhra Pradesh's Jonnagiri started production 2026
Sachin Jain, Regional CEO India, World Gold Council, points out that India can source up to 20% of its gold requirement from domestic mines by 2047 and emerge as the "Jeweller of the World" if policy reforms, investments, and industry collaboration continue to gain momentum.
Projects like Andhra Pradesh's Jonnagiri gold project, which commenced production in 2026, are steps forward.
Plus, there are new ideas on the table, like using digital tech to unlock some of India's massive household gold stash, to boost supply and rely less on imports.