Modi’s belt-tightening push raises pessimism around India stocks, jewellery businesses feel effects

Prime Minister Narendra Modi’s push to curb fuel and gold consumption has added to uncertainty in India’s already weak stock markets, raising concerns that moves meant to protect the economy may end up cooling spending.

May 13, 2026 - 18:00
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Modi’s belt-tightening push raises pessimism around India stocks, jewellery businesses feel effects
Prime Minister Narendra Modi’s push to curb fuel and gold consumption has added to uncertainty in India’s already weak stock markets, raising concerns that moves meant to protect the economy may end up cooling spending.

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