look news india
India brought gold from Britain: India has recently brought 1,000 tonnes or 1 lakh kg of gold from the United Kingdom. The gold belonged to India, but was stored in Britain. Bringing this gold to India is a very important step and not just for one reason, but for many reasons.
It was decided to bring back the gold from Britain to boost the economic stability of India. Gold has been considered a safe investment for years. Gold is the safest asset against currency fluctuations and inflation. India wants to increase its economic strength by investing more in gold. Efforts are on to strengthen India's economy even in times of global instability.
India's economy was weak in the 1990s and during that time the Reserve Bank of India had to pledge gold. Bringing back this gold in 2024 is a sign of change. It is a symbol of the economic strength and stability of the country.
logical consequence
Bringing 1 lakh kg of gold from United Kingdom is not an easy task. This required a lot of planning and coordination. A special aircraft was used to bring this gold safely to India. The Reserve Bank of India was exempted from customs duty, but also faced the challenge of GST.
Better utilization of country's assets and saving money
Central banks of most countries invest heavily in gold. It makes proper use and management of the country's wealth. This step will save the Reserve Bank of India crores of rupees from paying to other countries for storage. Not only this, this gold can also be used in times of need.
increase in investors
This is a positive sign for domestic and foreign investors. There is important information for investors about how India's economy will be managed and what the backup facilities will be. This step will increase the confidence of Indian investors and foreign companies will invest more, which will strengthen the Indian economy.
excess gold investment
India is investing more in gold. Till now India has collected 822.1 tonnes of gold. The Reserve Bank of India had purchased 27.5 tonnes of gold last year and is expected to purchase more gold this year.