Vembu explains why PM Modi urged Indians not to buy gold despite 7.8% GDP growth

Zoho Co-founder Sridhar Vembu said PM Narendra Modi has urged Indians to avoid buying gold and travelling abroad unless necessary, despite India's 7.8% GDP growth, to conserve foreign exchange. "Our economy is growing at a good rate, but we still have an import dependence," Vembu said. He added that energy independence and technological capabilities would eventually reduce this need.