IIM – A & World Gold Council join hands to set up India Gold Policy Centre

Ahmedabad, 26 November 2014

Indian Institute of Management, Ahmedabad (IIMA) and the World Gold Council (WGC), today, announced the setting up of the ‘India Gold Policy Centre’. A first-of-its-kind initiative, the centre is aimed towards conducting cutting-edge research on all aspects of the Indian gold industry.

The objective of the ‘India Gold Policy Centre’ is 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. The Centre aims to conduct research that has a practical application and that the industry and all stakeholders can use, leading to the development of an effective gold ecosystem in the country.

“As part of the initiative taken by IIMA to connect more closely with practice, and in line with our vision to contribute and reach out to industry, the Gold Centre will provide innovative solutions and insights for the gold industry through cutting-edge research,” said Prof. Ashish Nanda, Director, IIMA. “The research is intended to study the growth and development of the gold industry in India and globally. I am thankful to the World Gold Council for supporting this initiative,” he added.

The move will help IIMA enhance its research environment. The management school has recently been engaging with different organisations and industry bodies to support and encourage research at the institute.

Likewise, the World Gold Council also believes there is a need for rigorous research on how gold can benefit our economy and society as a whole.

Commenting on the collaboration, 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. This historic asset can be used to enhance the nation’s prosperity by putting it to work for the economy, creating jobs, developing skills, generating exports and revenues. To develop gold’s potential, we need to understand gold’s role in the Indian economy, through high quality data, insights and research.”

“It is important that the Centre is established by a highly respected academic body, so we approached the IIMA to establish a dedicated and exclusive ‘India Gold Policy Centre’. 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.

Situated within the campus of IIMA, the Centre is being set up with a financial grant from the World Gold Council and will operate independently. The Centre will commence its operations from December 2014.