The Economic Times

Uday Kotak says India can become current account surplus nation: Asia's richest banker shares one golden formula

Uday Kotak emphasized India's heavy dependence on gold imports, estimating a rise to $90 billion by FY27. He highlighted that excluding gold from the current account deficit would strengthen India's external position significantly. Kotak called for a committee to address gold demand alongside capital account challenges while proposing tighter fiscal policies. He noted that global economic uncertainties could be opportunities for India to accelerate reforms and improve domestic production.