Gold-Rich, Capital-Starved
- Nilesh Shah
- Updated: Aug 16, 2026, 21:04 IST IST
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.