"Women usually don't own anything. House, car is usually named after their husband or son, but gold is their strength."
Prime Minister Narendra Modi on Thursday said that gold is an important aspect of women empowerment, adding that gold schemes are focused on the country's growth.
"India has 20,000 tonnes of idle gold. Gold is an important aspect of women empowerment. Gold schemes are focused on the growth of the nation," Prime Minister Modi said at the launch of gold monetisation, sovereign bond schemes.
"Women usually don't own anything. House, car is usually named after their husband or son, but gold is their strength," he added.
He further said the Indian people repose a lot of trust in the value of gold, which is also a source of urgent funds.
"The people are usually very much concerned about where to keep their gold while they are out on a vacation, this scheme takes care of that. The reason behind the success of these schemes will be the women of India," he said.
Prime Minister Modi spoke of the great bond of trust that the family goldsmith enjoys in India. He said that once the goldsmiths of India gain familiarity with the schemes, they could become the biggest agents of these schemes.
He described the launch of the India Gold Coins, bearing the Ashok Chakra, as a matter of pride for the nation. He said that people would no longer have to depend on foreign minted gold bullion or coins.
The Prime Minister also launched a website on these schemes, and distributed Certificates of Investment to six initial investors. The schemes were proposed by Finance Minister Arun Jaitley during presentation of the Union Budget this year.
Prime Minister Modi had announced about the launch of the schemes in his "Mann ki Baat" programme last month.