Larry Fink Critiques India's Gold Obsession: Little Economic or Investor Benefit

BlackRock’s Larry Fink has pointed out that India’s deep-rooted love for gold hasn’t significantly benefitted its economy or yielded strong returns for investors. In his annual letter, the BlackRock Founder and Chairman reflects on discussions with Indian policymakers during his visit last November, highlighting their concerns over the nation’s gold consumption. Despite its cultural significance and status as a symbol of wealth, Fink notes, gold’s performance has lagged behind the Indian stock market, offering little in terms of economic stimulus.