PNG Jewellers has announced the launch of Swarna Swaraj, an initiative aimed at mobilising dormant household gold, reducing dependence on imported gold and encouraging responsible gold ownership and consumption in India.

The Pune-based jeweller, founded in 1832, stated that the initiative is a response to Prime Minister Narendra Modi’s appeal urging restraint in gold purchases amid concerns around India’s import bill. According to the company, India holds more than 25,000 tonnes of privately owned gold, much of which remains unused in lockers, vaults and inherited collections. Through Swarna Swaraj, the retailer plans to encourage the circulation of existing domestic gold into the jewellery ecosystem.

Commenting on the initiative, Chairman and Managing Director Dr. Saurabh Gadgil said, “When our Prime Minister calls on the nation, we do not respond as a retailer. We respond as an institution. For 194 years, this brand has been a guest in the homes of Indian families, present at their weddings, their celebrations, their milestones. Today, we ask that trust to work in a larger direction. India's gold should circulate within India. That is the simplest and most powerful thing we can do together.”

As part of the programme, the company will establish dedicated Gold Recirculation Counters across its showrooms and franchise outlets. Customers will be encouraged to exchange unused, broken or inherited jewellery, which will be assessed on-site and reintroduced into the domestic jewellery supply chain after refining. The initiative also includes a stronger focus on 18Kt jewellery for bridal and festive purchases, alongside expansion of 14Kt and 9Kt lightweight collections through Litestyle by PNG. The company said these categories require lower quantities of pure gold and align with evolving consumer demand for lightweight daily wear jewellery.

In addition, PNG Jewellers plans to conduct community-level outreach programmes with cooperative housing societies, women’s groups and local associations to encourage discussions around responsible gold consumption and recirculation. The company also stated that it will engage with industry bodies and policymakers to advocate reforms supporting domestic gold recirculation and reducing grey market risks linked to higher import duties.