Gold demand will go up in the second half of this year.
Global gold prices held below $1,200 an ounce this week.
Concern would kick in if imports stay at or over 100 tonnes a month.
Key to Modi's plan will be the interest rates offered for gold deposits.
Prices of buffaloes and cattle have fallen by 20-30%.
The effect of the beef ban has yet to show up in prices.
Buying had been muted in the past few weeks.
Hindu nationalists in India have stepped up attacks on the country's beef industry, seizing trucks with cattle bound for abattoirs.
Sales of gold coins and bars should be curbed after reaching around 300 tonnes
Based on the estimate, a courier bringing in 1 kg of gold currently worth around $40,000 at world prices could earn $470 if not caught.
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