Gold: Good to the last ounce: S S Tarapore

Gold: Good to the last ounce
Free Press Journal, December 1, 2014:
My VIEW:
According to medial
reports (November 27, 2014), the World Gold Council has tied up with IIM-A for establishing
a Gold Research Centre.
Even the right exploitation a small
portion of the potential of India’s surface gold stock will support fuelling
the country’s economic growth to a great extent. This is mainly because success
in this direction will bring down the import bills, besides improving forex
earnings from export of jewellery.
The WGC-IIM-A initiative will give the
necessary research support and professional backing to the efforts of Reserve
bank of India to make an inventory of India’s domestic gold stock,
standardising and making tradable at least a portion of that stock and creating
trust in the minds of the people about gold-backed financial instruments.
Media has already reported about the
measures being taken by RBI to ‘standardise’ country’s gold stock maintained
with the central bank. The successful completion of these measures will build
confidence and make things easy for the gold think-tank to move forward in the
right direction.
M G Warrier, Mumbai 





 

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