NSE urges investors to buy gold-backed EGRs this Dhanteras, sees $5–6 billion import savings
The exchange is seeking to bring domestically recycled gold and household holdings into the formal financial system through electronic receipts
The National Stock Exchange (NSE) is urging investors to purchase Electronic Gold Receipts (EGRs) on Dhanteras, believing it could save India up to $5–6 billion annually in gold imports. NSE explains that every EGR is backed by 100% physical gold that is recycled and refined within India, stored in SEBI-approved vaults. This means that every EGR a buyer purchases is backed by Indian-made gold, with no imported grams of gold involved.
India imported 721 tonnes of gold worth USD 72 billion in the fiscal year 2026, marking a 24% increase in value compared to the previous year. According to NSE, for every 100 tonnes of domestic gold converted into EGRs, roughly USD 10 billion is saved from the import bill. The exchange is developing an application to allow Indian households to convert their existing gold holdings into EGRs, with the gold then weighed, assayed, and credited to their demat accounts.
The NSE EGR segment, launched in May 2026, boasts an ecosystem including refiners, vaults, depositories, clearing infrastructure, and market makers. As of the current financial year, the segment has seen 2,781 trades with 6,197 units, totaling a traded value of Rs 97.5 crore. Trading occurs from 9 am to 11:30 pm, with settlement on a T+1 basis.
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