The World Gold Council has joined hands with Indian Institute of Management, Ahmedabad (IIM-A) for setting up 'India Gold Policy Centre' to do research on gold industry, says a report.

The Centre, to be situated within the IIM-A campus, is being set up with a financial grant from the WGC and will operate independently. The Centre will commence its operations next month. The main of the proposed Centre is to develop insights into how the significant stocks of gold that India owns can be used to advance growth, employment, social inclusion and the economic wealth of the nation, adds a report.

An estimated 22,000 tonne of gold is reportedly lying with Indian households. To put this gold into use, high quality data, insights and research is required to understand the role of gold in Indian economy, adds a report.