Hands sifting through traditional gold jewelry on a wooden desk
Nilesh Shah, Managing Director of Kotak Mutual Fund, has proposed two key strategies for India to accelerate its journey towards becoming a developed nation: monetizing the significant amount of idle household gold and alleviating regulatory and compliance burdens for entrepreneurs.
Shah emphasized that India holds a substantial quantity of gold within households that remains largely unproductive. Finding effective mechanisms to bring this dormant asset into the formal economy could provide a significant boost to national capital and liquidity.
Concurrently, Shah highlighted the critical need to streamline the regulatory environment. Reducing the complexity and compliance load on businesses and entrepreneurs is seen as essential for fostering innovation, encouraging investment, and driving economic growth.
The dual approach of unlocking gold assets and simplifying business regulations is presented as a crucial pathway to achieving the ambitious goal of ‘Viksit Bharat’ (Developed India).
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