India's domestic gold production is set to increase with the upcoming Jonnagiri gold project in Andhra Pradesh, marking a significant shift in the sector.
The project, led by private company Geomysore Services, aims to produce around 600 kg of gold by the end of FY27 and potentially up to 2 tonnes annually.
This development comes as India imports over 800 tonnes of gold annually, with rising global uncertainties making imports more expensive.
The project's integrated approach, which includes refining and selling gold directly to jewellers, is expected to reduce dependence on imports and encourage the development of more mines across the country.
India's gold production has declined significantly since the 1970s and 1980s, with limited exploration activity and bureaucratic hurdles cited as key factors.
