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Aksha Kamboj of IBJA notes that Indian women see gold as a strategic investment due to better financial literacy. Financial education and supportive policies can empower women further.
Aksha Kamboj, Vice President of Indian Bullion jewelers Association (IBJA) and Executive Chairperson of Aspect Global Ventures
For generations, gold has been an integral part of Indian households, deeply cherished by women. More than just an ornament, it has symbolised security, wealth, and tradition. However, with increasing financial awareness, the way women perceive gold is evolving. In an interview with news18.com, Aksha Kamboj, vice president of the Indian Bullion Jewellers Association (IBJA) and executive chairperson of Aspect Global Ventures, shares her insights into the evolving perception of gold among women in India. Edited excerpts:
Gold has traditionally been a preferred investment for Indian women. With financial literacy improving, are you seeing a shift in how women perceive gold—as an ornament or as a serious investment tool?
While gold is an ornament and emotion-driven purchase, it is also now an instrument of investment. Traditionally, gold has always been an emotional purchase, more so in India, because gold symbolises prosperity and security. But, education through finance is altering that mindset. Women now are seriously considering more than trinkets with gold, using gold ETFs, digital gold, and sovereign bonds as channels for wealth accumulation. They no longer buy gold based on mere accumulation like they used to.
Investors currently analyse the direction of price movement and trend in the market prior to buying. Gold, as a hedge against inflation and economic uncertainty, is an effective holding within any portfolio. For the women striving towards independence, gold represents security and opportunity. The paradigm shift is evident gold is no longer an heirloom passed down but a lucrative, long-term investment which reflects changing financial goals among women across the globe.
What initiatives or policies would you like to see implemented to ensure more women are empowered in financial and bullion markets?
My viewpoint is that empowering women in bullion and money markets begins with introducing them to education and exposure. Women’s financial literacy initiatives can teach them to manage investments, evaluate risks, and build wealth. Gold remains in the eyes of most women as primarily jewellery. But, through the right education, it can be used as a strategic asset. Women must be encouraged to take up leadership roles in finance and bullion industries too. Companies and policymakers need to go the extra mile in terms of gender-friendly policies, mentorship programs, and economic incentives to increase women’s participation in trading, investment banking, and bullion markets.
Technology has also had its role to play—gold ETFs, gold in the form of digital gold, and sovereign bonds have made it more accessible. Platforms designed specifically for women with an ease of investment process and customization of their individual requirements are a necessity. Educate and equip with the tools, and empowered women make strong, informed decisions and increase in independence.
At these times when gold is hitting record highs amid market volatility, do you see it as a good time to invest or should they wait to cool off a bit?
Gold is still a safe bet irrespective of booms and busts in the market. With current global uncertainties and inflationary pressures, gold is a haven. While the prices are high, history testifies that gold retains its value in the long term and appreciates when the economy declines. For long-term investors, phasing into gold bonds or ETFs can be a wise approach to level out price volatility.
It is difficult to catch the market, but holding gold as part of a diversified portfolio is a guarantee of financial security. Women, particularly, need to treat gold as something beyond trinkets and look at it as an inflation shield and a shelter for economic stability. With digital gold, physical holding, or gold-backed investment, the approach should be on systematic and tactical investment and not on price movements in the short run.
With a 42% rise in women monitoring credit score, how do you see it?
I believe this is an incredible change towards empowerment in finance. Women tracking their credit scores show an improved level of financial responsibility and forward planning. A good credit score attracts improved loan terms, reduced interest rates, and increased financial autonomy. It also symbolises a cultural transformation where women are claiming their financial health, transcending traditional saving habits to prudent financial growth.
As more women turn into entrepreneurs and investors, credit health knowledge will be instrumental in shaping the direction of their finance. This step indicates a future where women are more aggressive in managing wealth, becoming financially independent and actively contributing to economic growth.
With the government reducing the import tariff price of gold and silver, how do you see this impacting gold demand, especially among women investors?
Lowering import tariffs for gold and silver is a long-term solution that will improve the availability of gold among female investors. Decreased tariffs equate to decreased costs overall, enabling women investors to diversify their portfolio by investing in investment-grade gold instead of solely for ornaments. As increasing financial literacy, women are considering gold more and more as an inflation hedge than as a pure traditional asset.
This policy shift can also lead to increased investment in structured gold investment products like ETFs and sovereign gold bonds, which can empower and balance the investment climate for women. Though gold has been a favorite asset for decades, becoming more convenient and accessible to invest in will encourage more women towards financial independence and long-term wealth generation.
The attitude of women towards gold has been evolving. From being a sign of status and security, it is now a component of their investment basket. With growing financial literacy, women are becoming more and more well-informed decision-makers not just in gold, but in all the other investment products. With favorable policies, education, and market conditions, the trend will rise and women will become more aggressive financial players in the future.
