Gold: Made in India

India has an unending love story with gold, but this affection comes at a massive cost: 1,000 tonnes of gold imported every single year! Meanwhile, domestic production remains a "laughably small" 1.5 tonnes.For decades, getting to India’s hidden reserves was a "paperwork nightmare" tied up in confusing policy knots between central and state governments, making it unfeasible for companies to bid for leases.But the game has changed!This episode dives into the revolutionary 2023 Mines and Minerals Bill, which created new exploration licenses and financial incentives (like reverse bidding) to unleash the power of private miners. We unpack the story of the Jonnagiri gold project, which is not only the country’s first private gold mine but also the first new discovery since Independence under this bold new regime.Can one project hailing from the same southern gold belt where reserves largely sit boost India’s current output by 60% and set the precedent for unlocking other critical minerals?Tune in to find out how private enterprise is launching the new Indian gold rush and whether this golden pivot can finally reduce India’s dependence on costly imports⁠Support ALL IS MONEY