World Gold Council (WGC) has partnered with Indian Institute of Management, Ahmedabad (IIMA) to launch a Gold Policy Centre aimed at conducting research on all aspects of the Indian gold industry.
Located within the IIM-A campus, the Centre will start its operations next month and will run independently. The Gold Policy Centre has been set up with a financial grant from the WGC.
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The Policy Centre aims 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 will also perform research that has a practical application and that the industry and all stakeholders can use, resulting in the development of an effective gold ecosystem in the country.
Ashish Nanda, director of IIMA, said: "The Gold Centre will provide innovative solutions and insights for the gold industry through cutting-edge research. The research is intended to study the growth and development of the gold industry in India and globally."
Somasundaram PR, managing director, India, World Gold Council, said:"It is estimated that India holds around 22,000 tonnes of gold valued at over a trillion US dollars. To develop gold’s potential, we need to understand gold’s role in the Indian economy, through high quality data, insights and research."
"This will be a world class centre of excellence, conducting cutting edge applied research on the Indian gold industry, providing analytics, data and pragmatic recommendations that can be used by all stakeholders. Our joint vision is that the Centre will be the foremost provider of insights into the way in which gold contributes to our economy and our society," he added.
