Gold pulled India back from edge of crisis 35 yrs ago
Synopsis Thirty-five years after India pledged 67 tonnes of gold to avert a balance of payments crisis, the episode remains one of the defining moments
Synopsis Thirty-five years after India pledged 67 tonnes of gold to avert a balance of payments crisis, the episode remains one of the defining moments in the country's economic history. The emergency gold airlift bought crucial time for the landmark 1991 economic reforms that transformed India from a licence-permit economy into one of the world's fastest-growing major economies.
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