India Gold Policy Centre (IGPC)
The India Gold Policy Centre at the Indian Institute of Management Ahmedabad (IIMA) sponsored by World Gold Council is a centre of excellence, conducting cutting edge applied research on the Gold Industry in India, that provides insights and suggest ways the findings can be put into execution.
The full name of the centre is the India Gold Policy Centre at Indian Institute of Management - Ahmedabad (IIMA) sponsored by World Gold Council. It was set up as a result of a collaboration between the World Gold Council and the Indian Institute of Management, Ahmedabad.
The World Gold Council is the market development organisation for the gold industry. World Gold Council's purpose is to stimulate and sustain demand for gold, provide industry leadership and be the global authority on the gold market. Based in the UK, with operations in India, China, Singapore and the US, WGC is the lead for the gold industry worldwide.
Indian Institute of Management Ahmedabad (IIMA) has consistently been ranked as the number one management school in the country year after year in the last several years. It strives to create knowledge through applied and conceptual research, relevant to management and its underlying disciplines, and to disseminate such knowledge through publications.
Activities of Centre
- Carry out high quality research
- Produce an annual lndia gold policy report
- Disseminate research through a variety of channels including media outreach, participation in industry conferences, roundtable discussions and/or authored articles
- Engage with government and policy makers about the role of gold in the financial architecture and gem and jewellery industry.
- Develop business case studies on gold's role in the financial system and society
- Build relationships with other leading management institutions and global institutions on gold industry research, including WGC's other global research initiatives.
Themes of Research
The Centre shall focus on multi-disciplinary, thematic, applied research in several key areas relating to the use of gold as a fungible financial asset in India. The themes of research undertaken by the Centre shall be outlined by the Governing Body of the Centre and shall illustratively include, but not be limited to, the following topics:
- Policy on gold industry in India and internationally, including policy frameworks and effective implementation of policies.
- Role of gold in the Indian and global economies; India's role in the global and regional gold markets; India's response to China emerging as a major player and price influencer in the gold market; and gold's role as an asset class in relation to the financial system, including households, banks, and financial companies.
- Consumption patterns and consumer behaviour across geographies and commitments and inflexion points based on cultural attachment of households to gold.
- Putting gold to work for the economy - developing the required framework and incentives to increase domestic supply of gold through recycling and other forms.
- Setting world class standards and creating a robust gold ecosystem in India.
- Desensitising the current account deficit from gold.
- Gold marketing, including demand analysis, branding opportunities, professional marketing, purchase triggers, and other socio-economic aspects.
- Employment in the gold industry; organized and unorganized parts of the industry; and the industry's evolution overtime.
- Identifying the institutional infrastructure underlying and needed to strengthen the India Gold industry, including a gold exchange, a gold bank, accredited refineries, vaulting facilities and hallmarking.
- Director: Prof. Errol D'Souza
- Chairperson: Prof. Arvind Sahay
- Faculty representatives from IIMA: Prof. Errol D'Souza, Prof. Joshy Jacob
- Representative of World Gold Council: Mr. PR Somasundaram, Managing Director, India
- Industry Representative: Prof. Rama Bijapurkar
Members of the Centre
- Prof. Arvind Sahay (Marketing)
- Prof. Errol D'Souza (Economics)
- Prof. Joshy Jacob (Finance and Accounting)
- Prof. Viswanath Pingali (Economics)
- Prof. Neharika Vohra (Organization Behaviour)
- Prof. Sanket Mohapatra (Economics)