Economic TimesLean R·
India has got a $5 trillion sleeping giant
India's obsession with gold has always been viewed through two very different lenses. For households, it is a store of wealth and a hedge against uncertainty and also a symbolic asset passed down generations. For policymakers, it is also a recurring macroeconomic headache because almost all the gold Indians buy has to be imported. India imports with precious dollars most of the gold Indians buy so enthusiastically every year, and that gold vanishes into family holdings. Next year, again India h…
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