I would guess that the reason is, that India fraternises secretly (more or less) with Russia lately. Same as the other BRICS countries.
So in case the shit hits the fan, they dont want to see their gold being taken as a ransom by the western alliance. As it already happened with Russian money deposits in western controlled banks.
So they try to get their gold onto safe territory, as long as its possible. I think we can take this as a indication that nothing good is going to happen soon.