PM's Adviser On How India Could Have Become $5 Trillion Economy Long Ago
NDTV
Mutual fund industry veteran Nilesh Shah, a part-time member of the Economic Advisory Council to the PM (EACPM), said that in the last 21 years, Indians have spent around $500 billion on gold imports alone.
India could have achieved Prime Minister Narendra Modi's dream of a $5 trillion GDP target "long before" if not for the habit of importing gold, a member of his economic advisory team said on Monday.
Mutual fund industry veteran Nilesh Shah, a part-time member of the Economic Advisory Council to the PM (EACPM), said that in the last 21 years, Indians have spent around $500 billion on gold imports alone.
"We are working towards achieving the PM's $5 trillion GDP target. But by avoiding this just one habit, we would have become a $5 trillion economy long before. We have probably lost one-third of India's GDP by simply not following the right financial investment," the MD and chief executive of Kotak Asset Management Company said.
