World Gold Council, IIMA To Set Up India Gold Policy Centre

Thursday, 27 November 2014, 09:28 Hrs
44
cmt right
34
Comment Right
57
cmt right
14
cmt right
Printer Print Email Email


NEW DELHI: An India Gold Policy Centre, aimed at conducting cutting-edge research on all aspects of the Indian gold industry, will be set up by the Indian Institute of Management, Ahmedabad (IIMA) and the World Gold Council (WGC), a statement said here Wednesday.



The objective of the centre is to develop insights into how the significant stocks of gold that India owns can be used to advance growth, employment, social inclusion and the economic wealth of the nation, it said.



The centre aims to conduct research that has a practical application and that the industry and all stakeholders can use, leading to the development of an effective gold ecosystem in the country, the statement said.



"As part of the initiative taken by 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," said IIMA director Ashish Nanda.



"It is estimated that India holds around 22,000 tonnes of gold valued at over a trillion US dollars. 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, we need to understand gold's role in the Indian economy, through high quality data, insights and research," said WGC's managing director, India, Somasundaram P.R.



Read More: U.S. Keen On Smart City Project  and Here's the Favorite Investments of the Richie Rich


Source: IANS
SPOTLIGHT
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..