Gold-rich, capital-starved
India sits on a conservatively estimated 35,000 tonnes of gold, valued at well over 115% of GDP. We are the only country in the world with this distinction, yet we behave like Kasturi Mrig – the musk deer that searches frantically for a scent that lies within itself. We chase external capital through FDI, FPI, and borrowings like FCNR B deposits, while the real treasure remains frozen in our own tijoris.
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Views expressed above are the author’s own.
