In a unique initiative, the World Gold Council (WGC) along with the Indian Institute of Management, Ahmedabad (IIMA), has set up ‘India Gold Policy Centre’ to conduct research on all aspects of the domestic gold industry.
The objective of the centre is to develop insights into how the significant stocks of gold India owns can be used to advance growth, employment, social inclusion and economic wealth of the nation, a joint statement from the two organisations says.
The centre aims to conduct research that has a practical application and that the industry and all stakeholders can use. “It has been estimated that India holds around 22,000 tonnes of gold, valued at over $1 trillion,’’ World Gold Council PR, MD, India, Somasundaram said in the statement. The centre will commence its operations from December, and is situated within the campus of IIMA. It is being set up with a financial grant from the WGC and will operate independently.
“As part of the initiative taken by the IIMA to connect more closely with practice, and in line with our vision to contribute and reach out to industry, the gold centre will provide innovative solutions and insights for the gold industry through cutting-edge research,’’ Professor Ashish Nanda, Director, IIMA, said.
