SENSEX
NIFTY
GOLD
USD/INR

Weather

image 36    C

Global Business News

The Economic Times

Global Business / The Economic Times

details

Gold pulled India back from the edge of crisis 35 years ago

Thirty-five years after India pledged 67 tonnes of gold to avert a balance of payments crisis, the episode remains one of the defining moments in the country's economic history. The emergency gold airlift bought crucial time for the landmark 1991 economic reforms that transformed India from a licence-permit economy into one of the world's fastest-growing major economies.

30 Jul 2026 3:34 pm