The World Gold Council (WGC) has signed an agreement with Indian Institute of Management, Ahmedabad (IIM-A), to set up an India Gold Policy Centre (IGPC), to conduct research on all aspects of this sector. This is the first such initiative by the WGC with a financial grant, which will operate independently from next month. It aims to conduct research with a practical application, which the industry and all stakeholders can use. The idea is to develop insights into how the significant stocks of Indian gold can be used to advance growth, jobs, social inclusion and wealth.
It is estimated that India holds around 22,000 tonnes of gold valued at over $1 trillion. This historic 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, it is needed to understand its role in the economy, through high quality data, insights and research.
This will be a world-class centre of excellence, conducting applied research on the Indian gold industry, providing analytics, data and pragmatic recommendations. Its joint vision is that the Centre will be the foremost provider of insights into the way in which gold contributes to the economy and the society.