Sell Gold For The Country? Anand Rathi CEO's Viral Appeal Explained

追加: 2026-05-21

[00:00:00]Feroz Aziz joint CEO at Anand Rathi wealth to join in. Feroz, good morning and welcome to the show. Hiral on this side. You know, I mean interesting take is what I would want to start off with with regards to the way you're looking at this entire austerity measure.

[00:00:16]First up, your initial comments and how were you looking at it?

[00:00:21]Good morning Hiral.

[00:00:23]Yes, what we were doing is at Anand Rathi we were doing some degree of hisab to try and see we've got 4 trillion dollars of household gold which is sitting and the normal see normal time import has been it was actually 35 45 58 76. That's the billion dollars we have spent.

[00:00:44]After Modi ji's request of the prime minister's request, I'm sure we will come back to normal see like last year was astonishingly high because people run to buy assets which do well. That's called recency bias. So what am I trying to get to is the hisab is very clear. If you have a 65 billion dollar balance of payment dollars current account deficit 65 billion dollars 1 and 1/2 percent of our total gold reserve. So what we did at Anand Rathi was we said we have 403 relationship managers 13,800 families.

[00:01:15]If we request each of them to sell 100 grams of gold average of course somebody sold even half a kg and take receipts from them just to motivate the rest of them then we can almost solve India's 1% of the gold import problem. If a small unit of 403 professionals along with the generosity of the clients of course and God's grace if you are able to solve 1% of the country's problem that is solvable if we all participate. That's the initial thought. Let me stop here and look for a follow up question from Hiral.

[00:01:50]So Feroz, you know, it's it's very interesting to put something down on paper and have everything in terms of theory. The question is how doable is something like this, number one, and have you actually received any interest on the positive plea that you've made?

[00:02:06]Yeah, so much interest. I I'm surprised myself. Okay, a couple of uh tweets have gone viral and and clients now yeah. I I understand. [laughter] Yeah, you know what you know what my question is going to be. I mean, all of this going viral is one side of the story and that's what internet is meant for, but on paper Yeah. So so I'm not so fascinated by virality. Uh I wouldn't have been doing investor education on shows with 1,000 rupees SIP amount for the last 13 years, which are never going to be my client.

[00:02:35]So it doesn't impress me. Virality doesn't impress me. The fact that several of my clients proactively wrote to us, my CEO's wife, who loved some jewelry, she sold it. In spite of emotion, her statement was, "I am emotionally attached to this jewelry, but I'm more emotionally attached to the country." Okay? I have struck the right chord. And she I have I can probably show you live 11 lakh 79,000 receipts.

[00:02:57]Morning conversation, uh going to the locker, withdrawing it, going to the jeweler, melting it, and then giving you 11.79 lakh rupees.

[00:03:05]That's a one day's job uh for the CEO's wife. And so we are all very very adamant as professionals that we will get support. So coming back to how much support did I receive? There's one client who's one of our platinum clients with triple digit growth. He says, "Don't even bother calling me. Sell all all excess gold I have." Uh those kind of calls I've received. I've got uh one person saying that yeah, MCX may be future selling also be done. 70 crores.

[00:03:30]So So can can I with God's grace and everyone's support uh get to 3,000 crore number, 2,500 crore number, which we can directly catalyze? My belief is very high. With supports like support like the channel like yourself, can the Abhiyan become larger? Right? Uh I was debating on another channel. The anchor says that you huge emotional attachment with gold. There's a huge emotional attachment with the country.

[00:03:55]Now we have to strike the right chord.

[00:03:58]Okay, tell me one thing. I mean in terms of the emotional attachment with gold as well Firoz, the question is for someone to go ahead and sell gold right now, are they getting anything which probably could be a carrot on the stick to go ahead and sell it right now? Because that is something that will probably help someone get detached from the emotion to some extent.

[00:04:24]You know, I'm I'm sure you understand the emotion to jewelry or anything with gold much better being being a lady.

[00:04:33]I understand that there is something some incentives can catalyze this drive.

[00:04:40]Right? I personally believe that we have to do the start and then can there be a catalyst? Of course, the government can say three four months of capital gains on gold is zero.

[00:04:50]If they did that, people will queue up to sell in my judgment. But I think for the country, incentives at least in our company we operate like everything doesn't need incentive.

[00:05:01]Something needs a cause. Right? If we can bring our currency to 85, of course RBI can do its bit to make it from 97 to 96 in the morning by doing 5 billion dollar swaps and RBI can do a lot of stuff and it is trying its best. If if 100 crore people join, at least the 10 crore 15 crore owners join in, it'd be very easy. And then we can again do foreign holidays. So coming back to your question, I think that it is possible and the emotion incentives should be second step and I hope with your channel, I'm sure someday the ministry will see and say let me say, okay, these guys have done their bit. Now let me let me motivate them.

[00:05:42]Probably can happen three months from now. But I assure you now that you're giving me a time and giving me so much attention on the subject which I'm very very passionate about that I assure you that I will confirm to you with receipts that I will sell I will try my best. One one one last question one last question on this aspect is you know do you think something can be done in terms of not accumulating gold through mutual funds or ETFs where a directive can be put into place so that there could probably be a freeze in terms of accumulation on from that side of it.

[00:06:19]I think see people hate me to say that right but I think we should we should we should if we can stop accepting money in international funds. Correct. Ideally it can be considered. Now comes the question is it mathematically right? See I'm not making by you look at today we have AI everybody says AI AI AI use gold 10 year rolling return of gold is 4.1% from 1970.

[00:06:47]Okay 10 year return average rolling return is 4.1. I add 4% of dollar depreciation or dollar appreciation rupee depreciation 8.5%.

[00:06:57]10 year I think the odds of gold doing more than 9 10% is near near impossibility. So if there are Sukanya Samriddhi Yojana gives 8 and a half percent yeah that's it.

[00:07:07]I'm not getting you to sell something at lows I'm getting you to sell something at highs and I'm getting you to sell something which on a 10 year basis has not been able to get to double digit.

[00:07:18]That's reality. Has there been one instance? There has been one instance where the money return is not 20% compounded in dollar.

[00:07:26]I agree but take it out opportunity cost of a whole day for that 2 3% 5% chance that you you miss out a certain portion of the rally.

[00:07:35]It's okay is what I think most people are responding and I'm getting support in actuals not on internet.

[00:07:41]Firoz you're appealing to the public to India right now to do something like this.

[00:07:48]Uh your focus you said is not the thousand rupee SIPs, but you're appealing to the thousand rupee SIPs right now to come and do something for the country. Why not come up with a scheme from Anand Rathi itself saying that, "Okay, this is what we have for you as a scheme and let's do something together."

[00:08:07]Because your appeal is to that 1,000 rupee SIP, but your product is not driven towards them.

[00:08:14]No, no. See, 1,000 rupee SIP was on a different context. Let me clarify, but I'll do any Anand Rathi scheme if you can propose something. Okay, now I was saying that I am not interested in virality. Otherwise, nor am I looking at some clients coming to me. Otherwise, people used to laugh at me saying that, "Firoz, you're in private banking.

[00:08:33]You're going to shows which recommend SIPs of 1,000 rupees. How will that ever help your company?" So, I said that's not what I can do. I can't manage a 1,000 rupee SIP guys. Why precisely I'm going in the evening doing personal finance shows. That's what it was. So, coming back to your point, if there is a scheme which can be proposed, can I put some money on the table? If I have projected 485 crores of profit as a listed company this year, can I put something on the table to catalyze this cost? For sure. But, will I do >> I think I think the suggestion Firoz, the suggestion I would have is, "Okay, sell your gold to whatever extent you're proposing and we will make sure or at least get you into a scheme or you know, whatever you propose in terms of structure where that will give you equal or more amount of returns in the future.

[00:09:21]Why not propose something like that?"

[00:09:23]Okay, that's what you meant. Okay, let me let me apply some mind. Guaranteed returns in my business are I'm not saying guaranteed returns. I'm not saying guaranteed returns, but something which is similar where you know that at least that capital will stay protected, probably move at what gold is moving in at that pace.

[00:09:42]Great, great. I think you have you have directed great thought-provoking idea but because there are structure products which can be designed around gold or any other index with capital protection. Superb thought process very grateful. Actually truly grateful because I can I can look at some some products which don't give guaranteed return but gives you some degree of capital protection.

[00:10:06]Let me apply mind on that but I'm so grateful that you are thinking on those lines so that we can actually like we my my boss Mr. CEO coins this word generally so it's his quote. Jo de se kare pyar gold ko bechne se kaise kare inkar.

[00:10:21]Okay, so so basically if we invoke an emotion stronger than the emotion which we have with gold, we may be able to get there. Getting 1 2% monetization 1 2% monetization is chota kya hoga yaar.

[00:10:33]Absolutely.

[00:10:35]Do mahine ki profit book kar lena jo last year agar aapki 50% ki rally hui hai.

[00:10:40]To usme se 1% bechne me kitna tough hoga. Absolutely agree. Thought very noble. Execution expected to come in now if people follow your path and hoping you know Firoz is actually probably putting a structure together where people can actually go to Anand Rathi to understand how they can probably get out of gold, get into any other structure product but hoping to see some progress there. Thank you so much Firoz for putting out this thought process across and looking forward to many conversations as well in the future.