Category: Blogs

A Reflection on Gaming Start-ups and India’s Potential Introduction: A Call for Playful MindsIn a world that demands innovation and problem-solving, the need for creators who can design and develop games is more relevant than ever. This is not merely about entertainment; it’s about fostering a playful spirit that can transcend traditional boundaries of thought. Creativity, Indian Philosophy, and the Future of Innovation “Creativity starts the moment thinking stops.” – J. Krishnamurthy J. Krishnamurthy’s philosophy invites us to step into playfulness as a pathway to creativity. This is especially relevant for game creators and innovators who, to be truly ground-breaking, must embrace the spirit of play. Yet, this playful mind-set often collides with the practical concerns of financial backers, who prioritize tangible returns. Peter Drucker once said, “Innovation is a tool of an entrepreneur.” While Drucker wasn’t a specialist in creativity, he framed innovation as the cornerstone of entrepreneurship. In India, this concept takes on a different dimension, shaped by our unique socio-economic and cultural context. Can we balance the structured needs of entrepreneurship with the unstructured essence of creativity? Goa: A Creative Base Amid Global Shifts As someone who has visited Goa for over five decades, I see its potential as a hub for creativity and leisure. However, in the larger picture, the Asia-Pacific region, including India, is poised to shape the future. While Goa embodies playfulness, India often isolates itself from global influences, perhaps due to a colonial hangover or misinterpretations of Vedanta. India’s return to the principles of Buddhism, particularly the Eightfold Path, could help bridge this gap. These teachings emphasize mindfulness and balanced living—qualities that could guide both personal creativity and collective progress. A Vision for India’s Coastline Goa aside, I envision an “intelligent coast” stretching from Trivandrum to Panvel, encompassing underpopulated areas like Dakshina Kannada. This region has untapped potential for employment generation, fostering a blend of creativity, innovation, and sustainable development. To leverage this potential, we must focus on creating meaningful employment—jobs that not only provide income but also align with the aspirations of a modern, forward-looking India. Creativity and the Ability to Play A compelling perspective on creativity emerges from the work of Donald MacKinnon, who found that highly creative individuals aren’t necessarily more intelligent than their peers. Instead, they have the ability to get into a specific state of mind—a playful, childlike mood where ideas are explored for pure enjoyment.This aligns beautifully with Krishnamurthy’s philosophy: when we stop overthinking, creativity begins. Playfulness isn’t just an indulgence; it’s a mind-set that enables natural creativity to flourish. Conclusion India’s path forward lies in integrating its rich philosophical heritage with modern innovation. Whether through the playful creativity of Goans or the Eightfold Path of Buddhism, we must cultivate an open, adaptive mind-set to thrive in an increasingly interconnected world.As we strive to build a better future, let’s remember: innovation and creativity aren’t just tools—they are ways of being. Giridhar Prabhu

No Silver – Serve on a Silver Platter Kaju Katli, a treasured Indian sweet, is more than just a delicious dessert – it embodies a rich journey, cultural heritage, and unique nourishment. Made from cashew, this sweet treat reflects a story of resilience and tradition that stretches across continents. From the Jungles to India: The Cashew’s Remarkable Journey The cashew’s journey began in the remote forests along the Brazil-Venezuela border. This “perpetual seed” traveled across oceans to the coast of India, where it found a new life. Unlike most foods, the cashew cannot be eaten straight from the tree. It needs to be roasted over fire – twice! Thus it earned its reputation as a “hard nut to crack.” In just a century, this nut has transformed into a staple for millions, now enjoyed by crores of people across the world. No Silver – Serve on a Silver Platter In India, Kaju Katli is often served on silver plates, a symbol of its elevated status. Though the sweet itself contains no silver, the tradition of serving it this way highlights the respect and celebration associated with it. Each piece of Kaju Katli reflects more than flavor. It is a treat that carries significance, served with reverence and enjoyed with gratitude. A Sweet for Strength and Well-Being Cashew is uniquely suited for human nourishment, integrating fully with the body without waste. This special quality makes Kaju Katli a symbol of “aayuh” (longevity) and “bala” (strength). As it reaches people worldwide, the cashew has become a gift from nature, multiplied and made accessible for the well-being of all. Gratitude for the Producers Behind each bite of Kaju Katli is the dedication of cashew producers. It is them who bring this unique nut to life, making it available for celebrations, traditions, and health. Their work has turned this simple seed into a global symbol of nourishment and joy. So, the next time you savour a piece of Kaju Katli, remember it’s not just a sweet. It’s the legacy of a nut that crossed continents, transformed by fire and tradition – to bring strength, joy, and gratitude to every celebration. == “It’s Diwali season and I’m trying popular Diwali sweets to see which ones spike my blood sugar the most. Today I’m trying 4 pieces of Kaju Katli, about how much I would normally have. 50 grams in total, 225 calories. Let’s see what happens. Last piece. Let’s see what my glucose monitor says 38 mg increase. Just 4 tiny pieces of Kaju Katli leading to this type of increase is not less. But on the bright side, it is lesser compared to when I had 2 Gulab Jamuns which had increased my blood sugar levels by 46 mg. But you know one thing I’ve noticed, whenever I have fruits with simple sugars, they tend to increase my blood sugar levels by similar amounts. For example, 1 plate of watermelon, 48 mg. 2 apples, 40 mg increase.” ==

India Brings Back 102 Tonnes of Gold From Bank of England on Dhanteras in a Move Toward Economic Sovereignty Announced on Dhanteras, this decision marks a significant step in securing India’s national wealth domestically. Proposal to Relocate Gold Reserves to India Gains Approval: Earlier suggestions to the Prime Minister’s Office advocated for storing India’s gold within the country, including at the Rashtrapati Bhavan. A Symbol of National Pride and Heritage: Repatriating the gold symbolizes India’s dignity and economic independence, showcasing forward-thinking governance. Building a Strong Foundation for Financial Independence: Bringing reserves back to India reinforces the nation’s commitment to economic self-reliance and sovereignty. Safeguarding National Assets and Empowering the Indian Economy: This move supports the vision to strengthen the Indian Rupee’s status globally while ensuring prosperity and security for future generations. A Global Currency Initiative for the Indian Rupee The Reserve Bank of India (RBI) currently maintains a USD 50 billion swap arrangement with the Bank of Japan, overseen by Deputy Governor Shyamala Gopinath. With the Japanese yen depreciating by 45% against the USD to a current rate of 154 yen, there is a timely opportunity to consider a Rupee-Yen arrangement that could provide significant economic advantages for India. This calls for a well-structured, long-term mechanism with Japan to support the growth and prosperity of both nations over the next 30 years. 1. Repatriation of Gold Reserves India’s gold reserves should be transferred from the Bank of England in London to a secure facility within Rashtrapati Bhavan in India. Guarded by the elite Presidential security, this relocation would symbolize national wealth and ensure dignified stewardship. With high security in place, the public could view the gold holdings for a nominal fee, alongside a rotating exhibit of valuable state-owned jewelry or items lent by private collectors, adding a cultural dimension to this initiative. 2. International Circulation of the Indian Rupee The Government of India and the RBI should collaborate to print Rs 1,000 notes in Japan for international use. These notes would be distributed by Japanese banks in global financial hubs, backed initially by the Yen, to encourage Rupee circulation worldwide. In India, the notes would be honored but kept from being introduced as additional currency to control inflation. Foreign nationals and Indian citizens traveling to and from India could carry up to Rs 50,000 per person, subject to standard customs declarations. 3. Rupee Seigniorage and Investment This initiative would allow the RBI to benefit from seigniorage, creating Rupee funds available for investment within India and abroad, thereby advancing the Rupee as a convertible currency. Indian embassies, consulates, and expatriates should be able to exchange this currency globally at banks and currency exchange counters. 4. Digital Rupee Expansion A digital equivalent of the Rupee should be made available by the RBI to facilitate international transactions, complementing the existing digital Rupee platform. 5. Convertibility for Investors Convertibility of the Rupee should be ensured for both domestic and international investors, bolstering its appeal as a currency for global commerce and investment. 6. Strengthening Defense with Nuclear-Powered Aircraft Carriers India should invest in nuclear-powered aircraft carriers (81,000 to 90,000 metric tons) equipped with Rafale jets to secure its strategic interests for the next 70 years. 7. Prepayment of World Bank Loans India should aim to prepay its loans to the World Bank, working toward independence from future borrowing from the World Bank or IMF. A structured plan for repayment should be implemented by the next administration. 8. Investment in World Bank Bonds Indian banks should be encouraged to invest USD 70 billion in World Bank bonds. This bond investment could provide influence in global financial structures and potentially facilitate rescheduling of loans for other debtor nations, benefiting about 80 countries. 9. Expansion of the Indian Foreign and Trade Services The Indian Foreign Service, Consular Services, and Indian Trade Service should be strengthened, with the UPSC tasked to recruit Junior and Senior Foreign Officers, as well as Trade Officers, on 10-year Short Service Commissions. 10. Introduction of Rs 300 and Rs 400 Notes The Government of India and the RBI should explore issuing Rs 300 and Rs 400 notes, accompanied by relevant national symbols, to enhance the Rupee’s utility and appeal. In partnership with the top 10 French banks, including BNP Paribas, Crédit Agricole, and Société Générale, the establishment of a significant banking presence in India’s GIFT City can help Indian banks manage Euro accounts, thereby facilitating current account operations with Europe. This would foster a seamless connection with the Eurozone’s extensive economy and allow banks like HSBC to manage multicurrency accounts for various European nations, reinforcing India’s financial connectivity on a global scale. Additional Strategic Collaborations: 1. Defense Collaboration – Support for nuclear-powered engines for seven aircraft carriers over 35 years is critical for India’s maritime strength. 2. Aerospace Technology Development – Indian institutions like IITs, NITs, and Polytechnics should collaborate with French engine manufacturers for advancements in aircraft engine technology. 3. Maritime Logistics – Establish a support framework for a registry of approximately 2 million marine containers, ensuring infrastructure for global logistics. 4. Central Banking and Bonds – Participation in global central banking and bond-holding activities will integrate India further into international financial markets. 5. French Language Training – Partnerships between Indian universities and French institutions for enhanced French language training can strengthen cross-cultural and economic ties. These measures represent a comprehensive approach to positioning the Rupee as a globally accepted currency, while bolstering India’s strategic, economic, and defense capacities for long-term stability and growth.

Why Choose Okinawa for India-Japan Collaborations? Okinawa is not just a gateway to Japan, but a hub of potential for deeper collaborations between India and Japan in the 21st century. With its strategic location and cultural openness, Okinawa can play a pivotal role in fostering economic, political, and social ties between these two nations. Here’s why Okinawa should be at the forefront of such partnerships: Geographical Advantage Okinawa’s proximity makes it an ideal entry point for flights from India, cutting travel time and improving aircraft turnaround efficiency. Strategic connections from Okinawa to the rest of Japan will also boost business and leisure travel, creating new economic opportunities. Code Sharing Among Airlines Indian airlines could embrace code-sharing agreements to streamline air travel between India and Okinawa. For instance, a traveler flying from Chennai with IndiGo could return via Air India to Kolkata, creating seamless travel options for passengers. A Hub for Indian Engineers Okinawa has the potential to host 20,000 to 30,000 Indian engineers, fostering economic growth through joint ventures in aviation, engineering, and technology. These engineers will contribute not only to Japan but also support Indian growth in various sectors. Asia-Pacific Support Services Okinawa can become a central player in providing support services for the Asia-Pacific region, bridging political, economic, and social interactions between India, Japan, and other regional players. Bilateral Currency Integration The proximity of Okinawa to South Korea and Taiwan makes it an ideal location to initiate currency integration between the Yen and Rupee, facilitating smoother trade not only between India and Japan but also with other Asia-Pacific economies. Expanding Global Leadership India’s access to Asia-Pacific communities can be enhanced by using Okinawa as a collaborative base. This can promote global leadership through partnerships with countries like New Zealand, Australia, and Pacific Island nations. Cultural Integration Okinawa could be the cultural bridge between Japan and India. Establishing cultural centers for language, arts, and education will benefit both nations, allowing Okinawa to become a destination for Japanese citizens to experience Indian culture. Scientific Collaboration Okinawa can serve as a hub for scientific conferences and collaborations between Indian and Japanese universities, promoting joint research and technological innovation. Postal System Integration India and Japan could collaborate on postal services through a central hub in Okinawa, streamlining parcel and postal delivery between the two nations. Maritime and Marine Development Okinawa’s location makes it an ideal center for maritime training and research. Indian technicians could train in Okinawa, improving skills in marine craft development and maintenance—benefitting India’s eastern seaboard, including the Andaman and Nicobar Islands. Antarctica Exploration Collaborations between India and Japan could extend to Antarctica exploration and research, with Okinawa serving as a base for projects aimed at mapping and human development. Desalination & Oceanography Research Okinawa’s expertise in oceanography could be pivotal in helping India develop desalination centers along its eastern coast. This collaboration could drive economic growth by addressing water scarcity and promoting regional prosperity. Conclusion Okinawa is uniquely positioned to foster closer India-Japan ties in the realms of business, culture, science, and geopolitics. By leveraging its strategic advantages, Okinawa could become the center of a 21st-century initiative for social, economic, and political collaboration between these two great nations.

Management Education in India – A Path Forward India’s management education is evolving to meet the demands of modern business. MBA programs must broaden their scope beyond traditional subjects like finance and marketing to prepare future leaders for a dynamic world. The landscape of Management education in India is undergoing a significant transformation. As industry demands grow, management education must progress and reform. The All-India Council for Technical Education (AICTE) has developed an MBA curriculum with standards that apply nationwide. While this effort is commendable in bringing uniformity to management education, it is becoming evident that the current framework needs to evolve to match the dynamic needs of the industry. Management as an Art At its core, management is an art. It’s not just a technical or scientific discipline but a skillset centered around dealing with people, both within and outside an organization. Managing effectively has much in common with administration, whether in the government, its agencies, or other institutions. There is a need for more focus on administration in management education. Overemphasizing leadership alone can be limiting. As Swami Vivekananda wisely noted, “Leaders need followers,” which resonates with the idea that institutions also need dedicated individuals, or “foot soldiers,” for their smooth operation. Managers today need to adapt to a wide variety of fields, including Public Policy, Public Management, Public Finance, Administrative Law, and Urban and Regional Planning. Daily interactions in these areas also require an understanding of Ethics in Public Administration and International Relations. Currently, the three primary pillars of management education include Finance, Human Resources, and Marketing. While these fields remain crucial for producing competent managers, the increasing complexity of modern business environments demands a broader curriculum. The Need for New Specializations Management education in India needs to expand into emerging areas of specialization to stay relevant. Some key areas that require attention include: – Turnaround Management in Institutions: This field focuses on managing change and transforming organizations effectively. To make these advancements, several strategic steps are necessary: – AICTE should freeze approvals for new MBA colleges and focus on managing existing approvals to ensure that only well-managed institutions thrive, while underperforming ones are phase out through structured exit routes. The bottom 20 percent of institutions could benefit from partnerships with more competent managers to turn around their performance. – Voluntary exit from AICTE: MBA institutions should transition out of AICTE’s purview voluntarily. However, those remaining under AICTE should strive to improve from mediocrity toward excellence. – Focus on National Excellence: AICTE should continue to pursue national excellence in Engineering, while allowing management education to grow steadily toward higher standards. – Adoption and Collaboration: Existing MBA colleges owned by public trusts could be adopted, adapted, or managed by institutions such as the Reserve Bank of India, National Institute of Bank Management Pune, and the Competition Commission of India, among others. – Examinations and Training on Campus: MBA campuses should serve as hubs for RBI officer examinations and interviews. With campuses spanning around 12,000 square meters, they could host branches of commercial banks and serve as training grounds for future managers. – Merger of Training Institutions: Over time, all state-owned bank training institutions could merge with these AICTE-approved MBA colleges, reinforcing key values like credit, character, and capability. These institutions would also handle aspects of public administration, with a particular focus on ethics. The Role of Public Administration in Management Education Public administration will play a significant role in shaping the future of management education. Retired and serving public servants can lead courses, ensuring that students learn the values of effective governance and administration. These institutions can also play a role in improving governance by processing public opinion, analyzing submissions from citizens, and shaping them into actionable insights for legislators. By the time the drafts enter Parliament, they will be more thoroughly debated and implemented. Addressing Managerial Shortfalls The Reserve Bank of India has expressed concern over the managerial shortfalls in commercial banks. Safeguarding the trust of citizens in state-owned banks is a collective responsibility of the government. By addressing these gaps in managerial competence, the future of India’s banking sector can be secured. Conclusion As the transformation of management education in India continues, the hope is that these changes will put an end to the era of “coaching shops” and foster an era of excellence in administration and management education. The path forward lies in expanding specializations, improving institutional performance, and integrating public administration into management education. These steps will ensure that India produces not only capable managers but also ethical leaders.

Empowering Petroleum Education – A Strategic Necessity for India’s Future In today’s rapidly evolving energy landscape, it is crucial for India to elevate its educational system to meet the demands of the petroleum and natural gas sectors. Integrating petroleum education across all state universities, IITs, and National Institutes of Technology (NITs) in India could play a pivotal role in shaping the country’s energy future. The Importance of Petroleum Education Petroleum is a cornerstone of global energy. India as a growing energy consumer must build a knowledge base that not only supports its needs but also fosters innovation. Encouraging IIT Dharwad to become a center of excellence for petroleum downstream industries, along with alternative green energy initiatives, could be a game-changer for India’s future energy landscape. This academic endeavor should not only focus on India but also explore global case studies like the Total project in Mozambique, encouraging discussions that resolve industry disputes and foster international cooperation. Strategic Petroleum Reserves – A National Priority India’s need for Strategic Petroleum Product Reserves is a pressing issue. Expanding these reserves could provide much-needed energy security in times of geopolitical uncertainty. Academia should engage in generating innovative ideas and making them accessible to policymakers. Furthermore, better management strategies for petroleum pricing, which directly affect India’s energy stability, are essential. Additionally, with the Qatar Gas deal nearing its end, it is crucial to address how India will source natural gas moving forward. Increased export of U.S. natural gas, combined with enhanced production from existing assets, could be part of the solution. A Call for Collaborative Learning A visionary idea is to bring together academia and industry by establishing professorships in petroleum studies across Indian institutions. This partnership would allow seasoned professionals to share their insights and experience with students, enriching both theoretical and practical knowledge in the sector. By encouraging MBA programs to sponsor national professors in petroleum studies, India could create a network of professionals who understand the complex pricing dynamics and geopolitical influences on energy. These initiatives could go further by encouraging professors to teach in their local languages, making petroleum economics accessible to a wider audience. The Role of Mangalore in India’s Petroleum Story Mangalore, a significant hub in India’s petroleum refining industry, stands as a testament to the success of integrating education with industry. The city’s refinery, which began in 1993, now ranks among the world’s finest industrial complexes. This achievement, rooted in collaboration between the Kanara Chamber of Commerce and the Ministry of Petroleum, showcases the potential of similar initiatives across India. Moreover, the Mangalore region’s educational initiatives have untapped potential. The city’s tradition of self-sustained education could serve as a model for expanding petroleum studies, research, and innovation. A visit to the region could spark further interest in aligning education with industrial needs. Building a Harmonious Future Through Education The broader vision calls for the integration of 22 Professors of National Eminence in Petroleum Economics, who would be fluent in India’s diverse languages. This could drastically improve public understanding of the petroleum sector, fostering a more informed and engaged population. By promoting innovation in petroleum education, recycling initiatives, and energy conservation, these professors could play a pivotal role in driving sustainable development across the country. Such initiatives would not only enhance energy security but also contribute to nation-building by nurturing a culture of informed, forward-thinking professionals. Conclusion: A Call to Action Integrating education with India’s strategic petroleum and energy needs is a crucial step forward. By fostering a culture of collaboration between academia and industry, India can develop a workforce capable of addressing the complex challenges facing the global energy market. These initiatives will ensure that India is well-prepared to navigate the future of energy, ultimately leading to a more prosperous and self-reliant nation.

There should be an Indian Council for Applied Agricultural Research, located in Madhya Pradesh. This choice is strategic due to its central location in India, facilitating accessibility for stakeholders and making it an ideal hub for agricultural engagement. Central Location: Madhya Pradesh’s central position makes it convenient for all stakeholders to visit, ensuring broad participation and collaboration. The state’s diverse agricultural landscape and strategic location offer a unique advantage. Stakeholder Engagement: It is ideal for engaging farmers, farmer families, villagers, retired government officials, scientists, military personnel, and other stakeholders interested in various aspects of food, including nutrition, taste, and efficient food production. Food Processing Capabilities: Madhya Pradesh is pivotal in India’s food processing sector. It aligns with the national agenda for reducing food wastage and maximizing the utility of agricultural produce, making it an ideal location for the Council. The research conducted will involve a diverse range of participants to address key issues in agricultural practices, ensuring sustainable and efficient food production. The principle of Annam Brahma, which underscores the importance of food in Vedanta, will guide the Council’s initiatives. By-products from agricultural processes can be recycled into the soil, promoting sustainability without harmful chemicals. Current Gaps and Future Needs: The Indian Council of Agricultural Research currently operates centrally, while state universities handle agricultural sciences. However, there is a need for improved coordination and expansion to ensure advancements are well-documented and disseminated. Expanding the Central Food Technology Research Institute into 30 regional centres will enhance research and application. These centres will focus on:- – Minimizing processing time – Improving communication of developments – Ensuring food safety, thereby promoting consumer awareness and compliance with international standards. The Council will align with international standards, such as ISO and HACCP, to meet global food production and safety requirements. It will also address phytosanitary measures to ensure agricultural products meet industrial use standards. The proposal includes acquiring 2 million specialized food containers for global shipping, ensuring food safety and compliance with international traceability and standards. Employment and Income Growth: The initiative is expected to engage about 2 crore people part-time and 5 crore families full-time in food production, leading to increased employment and incomes. By focusing on food design and development, it aims to eradicate hunger and ensure everyone has access to food from 6:00 AM to 7:00 PM. Waste Recycling and Job Creation: A movement to control and recycle household bio-waste will not only improve urban cleanliness but also create approximately 5 million jobs. Recycling initiatives will further enhance employment opportunities and improve livelihoods for at least 2 crore people already involved in these activities. The immediate establishment of the following institutions is needed to support these objectives:- – Indian Council for Applied Agriculture Research: This council will focus on applied research and its practical implementation in agriculture. – Indian Agriculture Products Recycling Agency: This agency will oversee the recycling of agricultural products to minimize waste and promote sustainability. – Centre for Communications, Logistics and Transportation of Food Products: This centre will improve the logistics of food products across railways, roads, and other transportation forms. – Centre for International Relations in Agriculture and Foods: This centre will facilitate collaboration with international bodies, including the Bharat – United Nations Food Programme (UNFP). Additionally, the creation of the South Agricultural Organization will enhance agricultural activities in southern nations, with headquarters in Brazil. It will support countries like New Zealand, Australia, Kenya, and others to combat hunger and improve agricultural productivity. This organization will work at a fraction of the current UN operations’ cost, complementing the UN’s efforts to eliminate hunger globally by leveraging surplus production from the South. India’s surplus agricultural production, currently around 40 million tons, should be used to address global hunger. By integrating global surpluses, the Council aims to meet the needs of one billion people, ensuring prosperity in Africa, South America, and the Asia Pacific regions. The industry that converts in the best possible way will require to be ‘S.M.A.R.T.’: S – Specific M – Measurable A – Achievable R – Realistic T – Time-bound In conclusion, the establishment of the Indian Council for Applied Agricultural Research in Madhya Pradesh is a strategic move to enhance agricultural research, promote sustainability, and address global food security. The proposed institutions and initiatives will foster collaboration, improve food production efficiency, and create significant employment opportunities, contributing to India’s agricultural growth and global food security.

The Ministry of Commerce can leverage the import of gold into sound channels to prevent smuggling. The cost of smuggling is around 4% of the value of gold, and it creates a very unhealthy and unsound mechanism where any purchaser in India has to resort to smuggled gold.  The sole objective of any exercise for orderly governance is not to encourage any unsound practices in trade by any action or inaction of the central government. The liberalization program has worked well, and India imports 700 metric tons legitimately. The first action of the Ministry of Commerce should be to outsource the data of the last five years of the actual handling of gold to a single agency so that all aspects of data and information can be reprocessed and made available to the ministry and to the people of India.  This is affordable and should be an official government program to handle the importation of gold through quasi-canalization, which blends the power of the government with making available all precious metals—gold, silver, platinum, and equivalents—in an organized manner. It should also permit the rapid recycling of gold within India under official domain. It is suggested that, as a government entity, Kolar Goldfields Limited can be engaged by the government for “custodial services” for up to 100 metric tons with the following sequence of security: 1. The President’s Bodyguard   2. The CISF   3. The Railway Protection Force   4. The regional police under the Ministry of Home of respective state governments This mechanism, effective for 100 metric tons, will then pave the way for India to have, by notification from the Director General of Foreign Trade and approval by the Cabinet, that only mined gold of prime quality with Indian markings and identifiable should be imported directly from the mining companies into India.  In this case, the sole carrier as a national carrier should primarily be Air India, but later, when the occasion arises under strict conditions, other wholly-owned Indian entities can be permitted. This can also include the Indian Post Office, which could act as the official carrier of gold to all districts of India. The custodial aspect of the primary gold can be with the General Post Office and handed over to the commercial banks under their custody. The commercial banks of India should offer custodial services for this gold at 1,200 locations under the same category of supervision in their owned premises, and this should be in visible format. The President of India shall be the custodian of the gold reserves of India in Rashtrapati Bhavan to the extent that the Cabinet permits. This shall be in public view, and visitors will be charged for visiting to understand the qualities of the precious metals that, as a sovereign, are held by the Reserve Bank of India as gold reserves, which means a fourth tier of official reserves.  The Reserve Bank of India, along with customs and other regulatory organizations, will hold it in primary form within Rashtrapati Bhavan, and this shall be in the public domain. This should be managed in such a way that there would be 100% transparency in how the gold price is determined by partly cryptic means and partly transparent means.  Therefore, Financial Benchmarks India Limited shall be the sole authorized benchmark price provider eight times a day -from 7:00 AM to 9:00 PM – which the people of India will recognize the rupee value of gold as a Reference Price.  The reference price shall be partly cryptic, with the President’s Bodyguard as the custodian of how the prices are worked out, and partly manual, based on visible transactions that occur in the world. Therefore, the price will always be mentioned in rupees per gram and not in any other currency, and this reference price will be respected by officials as well as all transactions operated in India. To give designation to the profession, all gold and precious metal employees in India shall be registered under all categories, including Aadhaar card, and also under an amended ESI situation.  Any performer within the precious metals industry shall be compulsorily a member of the ESI, as well as holding two accounts: a Public Provident Fund account in the Post Office and an account governed under the Provident Fund Act when employed.  This method of registration will then address the question of approved precious metal handlers, and wherever they are, they shall be treated with dignity. The custodians of primary gold will be responsible for making this primary gold available to all jewellery gold exporters. The visibility of gold should be such that all gold exporters shall be provided facilities at all international airports. Therefore, the first custody of any imported gold shall be visibly handled at the importation centres.  The Airports Authority of India Limited shall be the designated agency ensuring that every aspect of this is ecological and adheres to green standards.  Therefore, the Airports Authority of India Limited can raise ₹10,000 crores as bonds and create facilities for handling all precious metals. These facilities will include electric cars, visibility standards, and carriage standards for precious metals, both in visible and concealed forms, with the approval of the Home Ministry.  The carriage of precious metals within India should be regulated. The visible aspect of this needs to be that all orders processed for gold upon importation, when arriving from mining companies, should ensure that 25% of the gold value is paid in the home country’s currency, as approved by the Ministry of Commerce, the Reserve Bank of India, the Cabinet, and the Finance Ministry. For instance, when primary gold is imported from Australia, 25% of the payment will be in Australian dollars, and the balance would be paid in Indian rupees, which can be instantly converted into any other currency of the world in a designated Indian bank or a partly Indian-owned bank in that respective nation.  For example, if gold is imported from Russia, a rouble payment would be better than one in an international currency.  However, if a Rupee-Ruble arrangement is reached, rupees can be paid by a Russian bank to the Russian company.  In this form, rupees will get converted into gold, and gold into rupees, at any point in the nation or the world, only in customs-bonded zones.  This mechanism will create a gold and precious metals merchandise-related sheet on a real-time basis, updated every 24 hours, which will be made available by FBIL and the Commerce Ministry websites, managed by a single agency, 100% government-owned or partly government-owned.  This will ensure that India’s precious metal imports and exports are not measured as merchandise imports and exports, but rather recognized as capital. The public of India holds enough gold. Therefore, an examination is needed to determine whether the Reserve Bank of India should have the gold reserves or whether gold should be a form of convertibility.  All commercial banks in India or any financial entity should have fungibility, where they will examine global factors and Indian conditions. The availability of data in the public domain will add value.  Therefore, it is recommended that all precious metal imports and exports be removed from the trade statistics of general merchandise and that a specialized format be provided on a real-time basis. It should be understood that all underground transactions or gold held by evasion of taxes will be handled separately by the Central Board of Direct Taxes. Any form of precious metals that has been acquired with tax-paid money will not be dealt with in a negative fashion. The people of India must be informed that if there is a situation where gold needs to be held, it should be from tax-paid money. Therefore, transparency in this regard should also include constitutional education on various aspects, as the term “market” comes under the state list.  Any form of regulation should ensure continuity in the education on the rupee and the world. Therefore, as India is a dominant importer of merchandise, the value of Indian goods needs to be communicated to the world.  Every Indian should understand that any merchandise imported, when passing through customs, should be instantly processed at the value it has entered the Indian Union, and therefore the influence of India on world markets and world markets’ influence on India will be in the larger public domain. What is important is that the legitimate demand of exporters of jewellery needs to be provided seamlessly by delivery of prime gold when paid for at international prices of the moment. They should also get the benefits of value addition in India and compensated wisely for the difficulty of doing business in India, till obstacles are removed. What Ministry of Commerce can do in National Interest within its domain will have a great influence in shaping international trade and its effects.