PM Modi latest statement: Prime Minister Narendra Modi in Hyderabad on May 10, 2026. Photo: PMO via PTI PM Modi on gold buying: Prime Minister Narendra Modi on Sunday (May 10) urged citizens to reduce spending on petroleum products and gold in a bid to conserve India’s declining foreign exchange reserves. He advised citizens to increase the use of public transport and electric vehicles (EVs), revive Covid-era work-from-home arrangements and avoid non-essential foreign travel and gold purchases for a year, prioritising local goods instead. “Use metros wherever metros are available… All of this will reduce dependency on petrol and diesel, and thereby cut the dependence on foreign currency,” he said. The proclamation comes even as India’s forex reserves face massive pressure from multiple directions. India, a net oil importer that meets 89% of its oil needs from external sources, now has to pay higher oil prices — from around $70 per barrel a year ago to over $113 now.…