PNG Jewellers has introduced ‘Swarna Swaraj’, a nationwide campaign focused on bringing dormant household gold back into circulation, lowering India’s dependence on gold imports, and promoting more mindful gold consumption habits.
The initiative has been launched in response to Prime Minister Shri Narendra Modi’s recent appeal encouraging citizens to practise restraint in gold buying. PNG Jewellers stated that it approached the appeal “not merely as a business, but as an institution sharing 194 years of history with the people of India.”
According to the company, India is believed to possess over 25,000 tonnes of privately held gold, a large portion of which remains unused in lockers, vaults, and inherited holdings. Through Swarna Swaraj, PNG Jewellers aims to channel this idle gold back into the country’s jewellery ecosystem.
Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, said, “India’s gold should remain in circulation within India. That is the simplest and most impactful step we can collectively take.”
As part of the initiative, PNG Jewellers will set up dedicated Gold Recirculation Counters across its retail stores and franchise outlets, enabling customers to exchange old, damaged, unused, or inherited jewellery. The recovered gold will be refined and reintroduced into the domestic market, thereby reducing dependence on imported bullion. Customers participating in the programme will also receive a commemorative Swarna Swaraj Certificate.
The campaign additionally promotes the use of lower-karat jewellery. PNG Jewellers plans to strengthen its range of 18-karat jewellery for bridal and festive segments, while its Litestyle by PNG brand will expand offerings in lightweight 14-karat and 9-karat jewellery designed for everyday use.
Beyond retail initiatives, the company intends to undertake community outreach activities through housing societies, Ganesh mandals, women’s groups, and self-help organisations to encourage awareness around responsible gold ownership and recirculation practices.
PNG Jewellers also noted that it will work closely with industry associations and policymakers to advocate reforms supporting domestic gold recirculation and addressing grey market challenges arising from higher import duties