India Aims to Make Gold a Strategic National Asset by 2047
The World Gold Council has released a vision document titled Swarnim Udaan 2047, outlining a roadmap for the role of gold in India's economy up to 2047. The report aims to position gold as a strategic national asset, with targets including meeting 10-15% of annual gold demand through domestic mining and mobilizing 10-15% of household gold into formal financial systems.
The document proposes institutional mechanisms such as a National Gold Board and a Gold Innovation Centre to support coordination, regulation, research, and technology adoption. Speaking on the report, David Tait, CEO of the World Gold Council, said, 'India is already central to the global gold ecosystem, and its role is set to become even more significant as global supply chains evolve, financial markets deepen, and strategic technologies advance.'
The report also highlights the importance of gold in industrial innovation, financial resilience, and economic security. It sets out five areas for development to enable a formal and globally competitive gold economy: 'Mine in India', 'Jeweller to the World', 'Financialisation of Gold', 'Gold Consumption', and 'Industrial Use.'