Malabar Gold & Diamonds has submitted a proposal to the Indian government advocating for significant reforms to the Gold Monetisation Scheme (GMS). The proposal, presented by M.P. Ahammad, the chairman of Malabar Group, aligns with Prime Minister Narendra Modi's call for responsible gold consumption and aims to enhance India's economic resilience. Currently, India imports 700-800 tonnes of gold annually, which strains foreign exchange reserves. In contrast, Indian households and institutions hold an estimated 25,000-35,000 tonnes of gold in various forms, much of which remains idle. The proposal suggests measures to increase public participation in the GMS, such as reducing the minimum deposit from 10 grams to 1 gram, offering flexible redemption options, and integrating organized jewellers into the scheme. These changes could mobilize 1-2% of domestic gold holdings, potentially releasing 600-700 tonnes of gold back into circulation, significantly reducing import dependency and strengthening the economy.