India's rich temples may open gold vaults for Modi http://www.reuters.com/article/2015/04/10/india-gold-temples-idINKBN0N02BW20150410
Anyway, Modi's idea is only a temporary assist. Sure, it will replace gold imports for a time, but it won't really change the structural issues in India's economy that make for a chronic trade deficit.
Also, Modi's plan doesn't fix the fact that Indian males have the tiniest penises on the planet. (Which explains a lot, actually.)
If that gold can be put to a more productive use by depositing it in banks and used in bonds or even just certificates of deposit then it would certainly help India's financial markets via increased capital. if it sits in a temple vault then it is not doing anyone any good.
I'm fascinated by a filthy culture that is spreading its deplorable misogynistic beliefs around the globe, as millions of its people flee an overpopulated shithole to the welcoming arms of dumbass Western countries. As I've said, the small dick thing seems to explain a lot.