In an attempt to conduct cutting-edge research on
all aspects of India’s gold industry, Indian Institute of Management-Ahmedabad
(IIM-A) and the World Gold Council (WGC) announced the setting up of the India
Gold Policy Centre.
Situated on the IIM-A campus, the Centre is being
set up with a financial grant from WGC and will operate from next month. The first-of-its-kind
initiative may well emerge as one of the top think-tanks for fuelling the
engine of the Indian economy.
The objective of the Centre is to develop insights
into how significant stocks of gold that India owns can be used to advance
growth, employment, social inclusion and the economic wealth of the nation,
said Ashish Nanda, Director, IIM-A.
India holds an estimated 22,000 tonnes of gold,
valued at over $1 trillion. This asset can be used to enhance the nation’s
prosperity by putting it to work for the economy, creating jobs, developing
skills, generating exports and revenues.
“To develop gold’s potential, we need to understand
its role in the economy through high quality data, insights and research,” said
Somasundaram PR, Managing Director, India, WGC.
The Centre aims to conduct research, having
practical applications the industry and stakeholders can use, leading to the
development of an effective gold ecosystem in the country.
It will provide innovative solutions and insights
for the gold industry through research intended to study the growth and
development of gold industry in India and globally. The move will help IIM-A
enhance its research environment.
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