‘Take a leaf from India’: Billionaire banker praises Indian housewives for investing in gold

The 66-year-old billionaire remarked, “The performance of gold over time highlights that the Indian housewife is the smartest fund manager in the world. Governments, central banks, economists, who support pump priming, high deficit funding, may need to take a leaf from India, a net importer of store of value forever!”

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Check out the post here:

Internet reacts

Kotak’s post has garnered over 19,000 views and sparked a range of reactions from users.

One user challenged the premise, stating, “She wasn’t managing a fund. She was hedging against one. The Indian housewife bought gold not for alpha but as insurance—against inflation, rupee volatility, and systemic risks. It worked, but not because she trusted markets, but because she didn’t.”

Another user offered a humorous take, writing, “Forwarded your Tweet to my wife and got a decent meal after long!” The sentiment was echoed by many who recognised the deep-rooted cultural habit of saving in gold.

A user reflected on the generational wisdom passed down in Indian households: “Savings in any form is good. Indian mothers are our first finance teachers. Gold has been at the heart of middle-class savings. The commodity bull run has left them smiling, often saying: ‘Main na kehti thi, heera chhodo, gold khareedo. At least resale value to hai!’”

Some responses urged a balanced view, warning against oversimplifying the tradition as financial brilliance. “Let’s not romanticise luck as strategy. The Indian housewife’s instinct deserves respect—but so does financial literacy. We should celebrate both tradition and informed choices,” a user noted.

(Aslo read: ‘Indian women wear unbelievable’ amounts of gold and silver’: millionaire investor Jim Rogers)

Another shared a personal touch: “My mother gives me weekly updates on gold prices. It’s not analysis per se, but a habit passed down for generations.”

One more user summed it up with a nod to maternal foresight: “Moms always say, ‘Buy gold, its value always rises.’ We invested in equity. But yes, moms were right. Compare your CAGR with gold now.”

Gold, viewed as a safe-haven against economic uncertainties, surpassed the $3,300 mark last Wednesday and continued its upward trajectory, crossing $3,400 on Monday, Reuters reported.

Uday Kotak’s net worth

According to Forbes, Uday Kotak’s net worth stands at a staggering $16.2 billion.