Gold has once again taken center stage as it edges closer to the ₹1 lakh per 10-gram mark, sparking a wave of endorsements from India’s top business minds. Uday Kotak, Founder and Director of Kotak Mahindra Bank, recently lauded the unwavering faith Indian households have shown in gold, calling the Indian housewife “the smartest fund manager in the world.” Zoho’s Sridha Vembu too agrees with him and said, “Gold is money”.
In a post on X, Kotak praised gold’s consistent performance over the years and highlighted how Indian families instinctively understood the long-term value of the yellow metal. He also took a subtle dig at global policymakers, suggesting that governments, central banks, and economists—known for high-deficit funding and aggressive pump-priming—could learn a thing or two from India’s time-tested approach to wealth preservation.
Backing Kotak’s sentiment, Zoho’s Chief Scientist Sridhar Vembu also chimed in. In a powerful statement, Vembu echoed that “Gold is money,” emphasizing that India's deep-rooted trust in gold over paper assets has been key to the country’s long-term economic resilience and cultural continuity. He pointed out that while experts and even software engineers debate financial systems, the poorest Indian understands the intrinsic value of gold—and that, he said, is real power.
What did the internet say?
The discussion around gold’s meteoric rise continued to stir debate online after Sridhar Vembu supported Uday Kotak’s praise for Indian households’ gold investment instincts. One user questioned the timing, suggesting that prominent voices like Vembu and Kotak were indirectly nudging homemakers to buy gold at sky-high prices. In response, Sridhar Vembu clarified that his interest in gold dated back to when prices were a tenth of what they are today. He pointed out that gold’s current performance reflects widespread distrust in global monetary institutions—a sentiment that isn’t likely to fade unless the world returns to stable, low-debt economic systems.
Others joined the conversation, highlighting India’s long-standing relationship with gold. Some noted that Indian states individually hold more gold than many entire countries, referencing a history of gold accumulation that spans over a thousand years—long before modern economic theories emerged. There was also concern about accessibility, with many lamenting that soaring prices have pushed gold out of reach for ordinary citizens. For some, gold has become as unattainable as owning a home, especially in an economy where a significant portion of the population struggles to earn even ₹500 a day. The sentiment was clear—while gold symbolizes wealth and security, it’s slipping further from the grasp of the average Indian.
In a post on X, Kotak praised gold’s consistent performance over the years and highlighted how Indian families instinctively understood the long-term value of the yellow metal. He also took a subtle dig at global policymakers, suggesting that governments, central banks, and economists—known for high-deficit funding and aggressive pump-priming—could learn a thing or two from India’s time-tested approach to wealth preservation.
Backing Kotak’s sentiment, Zoho’s Chief Scientist Sridhar Vembu also chimed in. In a powerful statement, Vembu echoed that “Gold is money,” emphasizing that India's deep-rooted trust in gold over paper assets has been key to the country’s long-term economic resilience and cultural continuity. He pointed out that while experts and even software engineers debate financial systems, the poorest Indian understands the intrinsic value of gold—and that, he said, is real power.
"Uday Kotak hails Indian housewife as the smartest fund manager as gold hits ₹1 lakh"
— Sridhar Vembu (@svembu) April 22, 2025
I agree wholeheartedly with Uday Kotak-ji. Indians' love of gold and a corresponding distrust of paper assets is the foundation of our long term stability and civilizational continuity.…
What did the internet say?
The discussion around gold’s meteoric rise continued to stir debate online after Sridhar Vembu supported Uday Kotak’s praise for Indian households’ gold investment instincts. One user questioned the timing, suggesting that prominent voices like Vembu and Kotak were indirectly nudging homemakers to buy gold at sky-high prices. In response, Sridhar Vembu clarified that his interest in gold dated back to when prices were a tenth of what they are today. He pointed out that gold’s current performance reflects widespread distrust in global monetary institutions—a sentiment that isn’t likely to fade unless the world returns to stable, low-debt economic systems.
Others joined the conversation, highlighting India’s long-standing relationship with gold. Some noted that Indian states individually hold more gold than many entire countries, referencing a history of gold accumulation that spans over a thousand years—long before modern economic theories emerged. There was also concern about accessibility, with many lamenting that soaring prices have pushed gold out of reach for ordinary citizens. For some, gold has become as unattainable as owning a home, especially in an economy where a significant portion of the population struggles to earn even ₹500 a day. The sentiment was clear—while gold symbolizes wealth and security, it’s slipping further from the grasp of the average Indian.
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