GOLD GROWTH IN INDIA

1950 and 1951, India's economy experienced significant changes, including in the gold sector. In 1950, India embarked on a series of economic reforms to achieve self-sufficiency and promote industrial growth. These reforms included the Industrial Policy Resolution of 1950 and the First Five-Year Plan (1951-1956).
As part of these reforms, the Indian government sought to regulate and control the import and use of gold in the country. In 1951, India introduced the Gold Control Act, which aimed to restrict the consumption and possession of gold and control imports to conserve foreign exchange reserves and support the industrialization process. The act also established the Gold Control Board to oversee these measures.