The Government of India is set to enhance its Gold Monetisation Scheme (GMS) by introducing e-gold units, which will allow individuals to convert their idle gold into interest-earning assets. Currently, the GMS offers interest rates of 2.25% for 5-7 years and 2.5% for 12-15 years, but these rates will be discontinued after March 2026. The initiative aims to address the challenges of the existing scheme, which has seen limited uptake due to the complexities involved in gold certification and conversion. A proposal from the All India Gems and Jewellery Domestic Council (AIGJDC) suggests integrating jewellers into the GMS to streamline processes and enhance adoption. The dematerialisation of gold into e-gold accounts is expected to improve compliance and liquidity, transforming gold from a passive asset into a productive financial instrument. Despite holding the world's largest gold reserves among individual households, India remains dependent on gold imports, which poses challenges for the economy. The proposed reforms aim to create a transparent and efficient gold economy, enabling households to leverage their gold holdings without losing ownership.