India's Gold Imports May Hit Record High: Can Bitcoin Fill the Gap?

Veteran banker Uday Kotak has raised concerns about India's rising gold imports. He predicts that the country's gold imports will reach $88-90 billion in FY27, prompting him to urge Indians to rethink their investment strategy.

Kotak suggests that Bitcoin could be a digital alternative to traditional gold investments. However, he also cautions that Bitcoin still faces volatility and regulatory hurdles, which must be addressed before it can gain wider adoption in India.

The veteran banker believes that clearer crypto rules and lower volatility could accelerate Bitcoin's adoption in the country, ultimately affecting demand for cryptocurrencies.