Description
The Indian gold market is a multifaceted and dynamic sector, intricately linked to the nation’s culture, economy and demographics. Structural transformations, including escalating GDP, an expanding middle-class and a youthful, economically engaged populace propel the growing demand for gold. Innovations such as digital gold and the growth of organized retail are transforming consumer behaviour, while regulatory enhancements are tackling issues in refining, recycling and trading activities. Nonetheless, challenges such as smuggling, infrastructural deficiencies and fragmented industry dynamics continue to infest the industry, as the stakes are quite high.
About the Author
Sundaravalli Narayanaswami is an accomplished academic, policy advisor and well-regarded thought leader in the fields of gold markets strategy, transport, logistics infrastructure and good governance. A tenured faculty at the Indian Institute of Management Ahmedabad (IIMA), she currently serves as chairperson of the India Gold Policy Centre, where she leads pioneering research on bullion markets, gold policy and economic formalization. With over two decades of interdisciplinary experience spanning operations research, public policy, transportation and financial systems, Narayanaswami has been passionate in driving national discussions on gold as a strategic economic asset.
Her work has bridged scholarship and practice, providing actionable insights for many public institutions including the India International Bullion Exchange (where she serves as public interest director), the International Financial Services Centres Authority and the World Gold Council. Her research and case studies―many of them cited by policymakers and industry stakeholders―explore the transformation of India’s traditional gold economy into a formal, transparent and responsible system.
Narayanaswami is the author of more than forty
peer-reviewed publications and many books. Her academic excellence and policy influence have been recognized through national and international awards.






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