Gold Aims to Become Key Pillar of India's Growth Story

The World Gold Council has released a report titled 'Swarna Bharat 2047' to make gold a growth driver of India's economy. The report presents a roadmap for the gold industry, aligned with the vision of Viksit Bharat 2047.

The report aims to increase domestic gold mining, exports, financialisation of household gold, and the role of gold in technology. It also recommends creating a Gold Board of India to streamline policy and governance.

Sachin Jain, Regional CEO of the World Gold Council, said that gold is not just an imported commodity but also supports manufacturing, exports, and millions of jobs. He stated that gold can become a major contributor to India's long-term growth.

The report estimates that India could meet 10-20% of its gold demand through local production, generating investment and employment. It also suggests that exports can rise to 300-400 tonnes over the next five to ten years through better manufacturing and innovation.