WGC ties up with IIM-A to set up research centre | Business Standard News

WGC ties up with IIM-A to set up research centre | Business Standard News

My VIEW:
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.
This 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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