Uday Kotak Praises Indian Housewives as ‘World’s Smartest Fund Managers’ Amid Gold Price Surge

In a recent post on social media platform X, Uday Kotak, the founder of Kotak Mahindra Bank, lauded Indian housewives for their long-standing trust in gold as a financial asset. He stated, “The performance of gold over time highlights that the Indian housewife is the smartest fund manager in the world.” Kotak’s remarks come at a time when gold prices have been on the rise, crossing the ₹1 lakh per 10 grams mark in India.​

The billionaire banker emphasized that while governments and central banks often engage in policies that may lead to high deficits, Indian housewives have consistently chosen gold as a store of value. He suggested that policymakers could learn from this approach, especially considering India’s status as a net importer of gold.​

Kotak’s post has garnered significant attention, with over 19,000 views and a range of reactions from social media users. Some users challenged the notion, arguing that Indian housewives purchased gold not as an investment strategy but as a hedge against inflation, currency volatility, and economic uncertainties.​

Others shared personal anecdotes, highlighting the generational wisdom passed down within families regarding gold savings. One user noted, “Indian mothers are our first finance teachers. Gold has been at the heart of middle-class savings.”​

However, some responses cautioned against romanticizing the practice, urging a balanced view that recognizes both traditional habits and the importance of financial literacy.​

As gold continues to be viewed as a safe-haven asset during times of economic uncertainty, Uday Kotak’s comments bring attention to the role of individual savers in shaping investment trends. While traditional savings methods like gold accumulation remain prevalent, the conversation also underscores the need for broader financial education and awareness.​

In conclusion, Uday Kotak’s praise for Indian housewives highlights the enduring value of gold as a financial asset in India. While acknowledging the wisdom behind this practice, it also opens the door for discussions on diversifying investment strategies and enhancing financial literacy among the general populace.